Welcome to the Twitter account for the Official Committee of Unsecured Creditors (UCC) appointed in the @FTX_Official bankruptcy cases. You can learn more about the UCC in the below thread or on our official website (UCCFTX.com).
The UCC represents the overall interests of all #FTX unsecured creditors, and we plan to use this account to share news and developments regarding the #FTXBankruptcy proceedings.
The UCC is being advised by counsel, investment bankers, financial advisors, and communications experts that are well-versed in digital, blockchain, and crypto assets, as well as complex investigations and bankruptcy law.
Our goal—above all else—is to maximize recoveries for unsecured creditors of FTX, including, among others, the multitude of customers who have been defrauded.
We are focused on providing information to maintain creditor and public awareness around key dates and noteworthy developments in the bankruptcy cases. We aim to ensure that you have the latest publicly available news regarding the chapter 11 cases in a timely manner.
Among the Committee’s various pending workstreams, we are monitoring the Debtors’ efforts to identify and protect digital assets, working with the Debtors regarding the potential marketing and sale of certain non-core and/or venture portfolio assets.
The Committee will also be investigating various prepetition transactions and potential acts of fraud, evaluating (and ultimately asserting) potential estate causes of action against former insiders and third parties that could lead to greater recoveries for unsecured creditors.
The Committee is also evaluating, together with the Debtors, the practical, legal, economic, and regulatory prospects of restarting the FTX exchange as part of a broader effort to maximize value for the benefit of general unsecured creditors.
Additionally, the Committee will be working with the Debtors on formulating, developing and implementing a chapter 11 plan for each of the Debtors.
We recognize the public interest in the FTX proceedings and that unsecured creditors have many questions. We ask that all questions and media inquiries be directed to the UCC website UCCFTX.com, where they can be answered via our FAQ tab or direct response as needed.
The UCC underscores its commitment to transparent communication with FTX creditors and the public going forward. We appreciate your patience and understanding throughout this process. #FTXBankruptcy
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