Lawyers working on FTX’s bankruptcy have managed to pull a rabbit from their hat, recovering enough assets to pay nearly all creditors the full amount owed, plus interest.

According to the company, lawyers have managed to recover between $14.5 and $16.3 billion dollars. The company says it was a very difficult task since FTX held “only 0.1% of the Bitcoin and only 1.2% of the Ethereum customers believed it held.” As a result, since debtors could not benefit from the appreciation of those cryptos to the extent initially thoughts, the lawyers had to get creative, looking for other sources of recoverable assets.

As a result of their efforts, FTX has put forth a plan that pays back all non-governmental creditors. The proposed plan includes resolution of the $24 billion in IRS claims with “a $200 million cash payment and a $685 million subordinated claim that will rank below claims of all creditors and governmental entities.” The plan also includes restoring $1.2 billion seized by the DOJ to be disbursed to customers and creditors, if the DOJ agrees.

For creditors holding claims in an allowed amount of $50,000 or less, the Plan creates a special “convenience class”. Because of this classification, if the Plan is approved by the Bankruptcy Court, the Debtors anticipate that 98% of the creditors of FTX by number will receive approximately 118% of the amount of their allowed claims within 60 days after the effective date of the Plan, subject to know-your-client and distribution information requirements.

“We are pleased to be in a position to propose a chapter 11 plan that contemplates the return of 100% of bankruptcy claim amounts plus interest for non-governmental creditors,” said John J. Ray III, Chief Executive Officer and Chief Restructuring Officer of FTX. “On behalf of FTX’s independent Board of Directors, I want to extend our deepest appreciation to the numerous governmental agencies, including the United States Department of Justice, the Commodity Futures Trading Commission, the Internal Revenue Service and the Securities Commission of The Bahamas, for their tireless efforts, cooperation and assistance through this complex recovery process. I also want to thank the Joint Official Liquidators of FTX Digital Markets, the Ad Hoc Committee of Non-U.S. Customers, the Class Action Claimants, BlockFi, the Official Committee of Unsecured Creditors and all of their professionals for their hard work in the development of the Plan and its resulting achievements. Finally, I want to thank all the customers and creditors of FTX for their patience throughout this process.”