Jefferies, an investment bank, said it expects FTX users to recover up to 40 per cent of their assets and has already bought some FTX debt

According to The Block on December 16, Jefferies Financial Group, a New York investment bank, expects FTX creditors to recover between 20% and 40% of their money, But with fees for lawyers and other administrators expected to run between $500 million and $1 billion in a bankruptcy process that could last several years, creditors could recover between 10% and 35% of their FTX holdings. In addition, companies including Jefferies said they have completed or are close to completing several deals to buy FTX debt.