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Get the free Chapter 11 FTX TRADING LTD., et al., Debtors. Case No.

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Case 2011648JTDDoc 472Filed 08/31/20Page 1 of 21IN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE In re:Chapter 11AAC HOLDINGS, INC., et al., 1Case No. 2011648 (JTD)Debtors.(Jointly
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Chapter 11 FTX trading refers to the process by which the FTX cryptocurrency exchange entered bankruptcy under Chapter 11 of the U.S. Bankruptcy Code, allowing it to restructure its debts while continuing operations.
Any business or individual trading on the FTX platform that is unable to meet its debt obligations can be required to file under Chapter 11, typically initiated by the entity itself.
Filing for Chapter 11 involves submitting specific forms to the bankruptcy court, detailing the company's financial status, debts, assets, and a proposed plan for reorganization.
The purpose is to allow struggling companies to reorganize their debts and maintain operations while providing a structured plan to pay creditors over time.
Debtors are required to report financial statements, schedules of assets and liabilities, statement of financial affairs, and a proposed plan for restructuring.
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