Over 500 Chinese creditors challenge FTX, opposing the $470 million compensation freeze

ChainCatcher news, according to CryptoSlate, over 500 Chinese creditors are challenging FTX's request to freeze $470 million in payments in a U.S. court. These creditors believe that FTX's action violates previous commitments and harms their rights.

They point out that FTX had clearly stated in its restructuring plan that as long as creditors submitted claims and voted in favor of the plan, they would receive distributions just like other creditors. However, FTX is now attempting to deprive them of their compensation rights on the grounds of "nationality or legal uncertainty."