Odaily Planet Daily News Court documents show that after the US trustee objected to the previous motion, the FTX debtor revised the settlement proposal. While the debtors criticized the U.S. trustee as "the only one opposing the motion," seeking to intervene in a routine settlement process already adequately protected by two separate committees of creditors, the debtors said they would proceed with the proposed amendments.
In the latest proposal, debtors list the U.S. trustee as a concerned party and reduce the maximum settlement value of claims covered by the process to $7 million from the previous $10 million. The debtor will also file a monthly report of the executed settlement. Any objection from the concerned party will need to be resolved or settled by court order before the claims process can proceed.
The U.S. trustee previously opposed the motion, saying $10 million was far too high to constitute a "small" claim and did not even provide sufficient notice of the nature of the claim. (CoinDesk)
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