FTX resumes payments to staff, contractors

After its bankruptcy filing, the FTX has resumed paying staff and contractors.

The company, once owned by Sam Bankman-Fried, said Monday that most FTX subsidiaries around the world are resuming ordinary course payment of salary and benefits to employees worldwide and ordinary course payments to certain non-U. S. contractors and service providers. With the Court approval of our First Day motions and the work on global cash management, I am pleased that the FTX group is resumed ordinary course payments of salaries and benefits to our remaining employees around the world, said John Ray III, new CEO. We appreciate the hardship imposed by the temporary interruption in these payments and thank all of our valuable employees and partners for their support. The relief includes cash payments with respect to both pre-petition and post-petition periods, subject to limits for payment of pre-petition amounts set by the orders of the Bankruptcy Court.

The FTX group will pay vendors and service providers in the ordinary course for all goods and services provided on or after the Chapter 11 filing date, it added.

The relief will not apply to certain staff in the Bahamas and Australia, as separate liquidation proceedings are ongoing there, the company said.