A group of FTX creditors, led by Sunil Kavuri, filed an objection to the restructuring plan proposed by FTX's administrators, arguing that the plan failed the best interests test, contained provisions that were not in the interest of the estate, and ignored property rights issues. Creditors said the cash payments would increase the burden on customers by requiring them to pay taxes on the cash they received, and they recommended in-kind payments to avoid tax problems. In addition, creditors are asking FTX to update its settlement disclosure statement against the Internal Revenue Service (IRS). Under the settlement plan, the IRS will receive $200 million in priority claims within 60 days of approval, and an additional $685 million in lesser priority claims will be paid after customers pay in full. FTX's restructuring plan includes a 118% payout to creditors with claims under $50,000, and other non-government creditors will also receive full claims and receive up to 9% interest compensation.