November 11, 2022, 11:39AM EST
• 5 min read
Quick Take
- November 11, 2022 Alameda files for Chapter 11 Bankruptcy Protection
- Alameda estimates there will be funds left over to distribute to the more than 100,000 unsecured creditors
- $10 – $50bn estimated assets available for distribution
- $10 – $50bn estimated liabilities outstanding
- Led by John J Ray III, experienced restructuring officer and plan administration from the Enron, Overseas Shipholding and Nortel Networks situations
- Filing comes days after Binance’s proposed rescue falls through
- This is an ongoing series from The Block Research covering Alameda & FTX’s insolvency and bankruptcy proceedings
Source: https://www.theblockresearch.com/analysis-of-alameda-ftx-chapter-11-bankruptcy-filing-185945?utm_source=rss&utm_medium=rss