/biz/ - Business & Finance

>>56407861

>Naked shorts (Securities sold but not yet purchased) have to pay back the original amount of the position they sold naked
>They also must provide a letter of indemnification that leaves them on the hook for coming up with any future distributions
>Plan administrators can alter the plan at any point to issue anything they want to anyone
>Plan can be reopened and altered at any point if ANY fraud is discovered by anyone up to 6 months post confirmation date
>1.7 TRILLION dollar liability on FTX creditor sheet (Name on file when all other names are listed)
Yeah, I'm thinking shorts are fucked.

I screencapped my post so I cant shut off the shills in future threads too, until they come back and spam a bucnh of shitposts trying to lfood the thread like just occurred at least.

I would note that a letter of indemnity puts them on the hook for any future distribution, at the same time they have to pay back the cash price of the share they sold without buying.

Must really suck.