In the course of the FTX listening to on Dec. 16, FTX liquidators requested for the “Bahamian authorized system to be revered” in relation to the continued chapter case in the US (US), whereas additionally denying allegations of any “improper conduct” on the a part of the Bahamas.
The FTX debtors sought to have the Collectors’ file unsealed, citing “important progress in figuring out property.” In addition they said that they don’t object to media retailers such because the New York Occasions and Bloomberg intervening within the unsealing of particular person collectors.
James Bromley, a Companion in Sullivan & Cromwell’s Monetary Restructuring Group, shared particulars of a gathering between debtors and liquidators from the Bahamas that occurred on Dec. 15. Though no conclusive options have been reached, Bromley reported that there was a “productive trade of views” and the agency hopes to discover a decision previous to the Jan. 6 listening to.
Jason Zakia, a Companion on the world regulation agency White & Case, knowledgeable the members of the listening to that the proposal made to the debtors addresses all the problems raised by Bromley earlier within the week. Zakia said that the Bahamas hopes the debtors will settle for it in “good religion.”
For extra updates concerning the case, please see our newest publish, “What to expect from FTX’s second bankruptcy hearing today; LedgerX sale, doxing creditors, custody of funds.”