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Mealeys

MLex

FTX Trading Ltd.

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Case overview

Case Number:

1:22-bk-11068

Court:

Delaware

Nature of Suit:

Firms

Companies

Government Agencies

Sectors & Industries:

  1. June 17, 2024

    Justices Side With US Trustee, Alex Jones Switches To Ch. 7

    The U.S. Supreme Court ruled there would be no retroactive redress for a disparity between U.S. trustee fees in different jurisdictions, seafood restaurant chain Red Lobster struck a deal with creditors to hammer out a reorganization plan, and a Texas judge pulled the trigger on converting Alex Jones' Chapter 11 case to a Chapter 7.

  2. June 10, 2024

    High Court On Ch. 11, New Bank Rules, Alex Jones Ch. 7 Shift

    The U.S. Supreme Court said an insurance company has "party in interest" standing to intervene in a Chapter 11 case, the U.S. Department of Justice's bankruptcy watchdog "modernized" its agreement for banks holding debtor funds, and recent motions could pivot Alex Jones and his media company's Chapter 11s to Chapter 7 liquidations.

  3. June 06, 2024

    FTX Hit With Slew Of Objections To Ch. 11 Plan Disclosures

    FTX 's creditors have launched a salvo of objections to the defunct cryptocurrency exchange's Chapter 11 plan disclosure statement, arguing it lacks "adequate information" about the objectors' treatment and is rife with "ambiguous" release terms. 

  4. June 04, 2024

    FTX Seeks Ch. 11 Stay On Competing Asset Claims

    Defunct cryptocurrency exchange FTX has urged a Delaware bankruptcy judge to put the brakes on multidistrict litigation targeting former company insiders, arguing that those claims rightfully belong to the bankruptcy estate and that any property recovered should instead go to creditors. 

  5. June 03, 2024

    FTX, IRS Propose Settling $8B Tax Fight For Just $885M

    FTX and the Internal Revenue Service have reached a proposed settlement worth roughly $885 million that would resolve the agency's contention that the bankrupt cryptocurrency exchange operator owes $8 billion in taxes, according to a motion filed Monday in Delaware federal bankruptcy court.

  6. May 28, 2024

    FTX Attys Cleared, Alex Jones' Reckoning, Modell's Deal

    A report found that FTX counsel Sullivan & Cromwell was not involved in the pre-bankruptcy fraud at the cryptocurrency exchange, Alex Jones and his InfoWars podcast business are facing a June 15 deadline for progress in their Chapter 11 cases, and a former bankruptcy judge was accused of trying to force a false narrative tied to his romantic relationship with an attorney.

  7. May 24, 2024

    Sullivan & Cromwell Cleared Of Any Misconduct In FTX Report

    The Chapter 11 examiner appointed in the bankruptcy case of fallen cryptocurrency exchange FTX Trading absolved debtor law firm Sullivan & Cromwell of any conflicts or misconduct related to the business's collapse and restructuring, recommending limited further investigations into discrete matters.

  8. May 23, 2024

    FTX Judge Declines To Undo Ch. 11 Digital Claim Estimation

    The judge overseeing the Chapter 11 case of cryptocurrency exchange FTX Trading Ltd. on Thursday denied a request to vacate an earlier ruling allowing the debtor to estimate the claims of creditors holding digital assets based on their petition date value, saying the party seeking to undo the order had not provided any new evidence to justify the action.

  9. May 15, 2024

    News Media Don't Want FTX Examiner's Report Sealed

    Major news media companies asked a Delaware bankruptcy judge to ensure that an examiner's report into crypto giant FTX's downfall is not filed under seal, arguing that a proposed redaction process runs counter to the court's previous order, a Third Circuit decision and the public interest.

  10. May 14, 2024

    FTX Wants Calif. Org To Return $5M In Donations

    FTX has filed an adversary claim in its Chapter 11 case seeking to claw back roughly $5 million in prepetition charitable donations given to a Berkeley, California, nonprofit, which the company said was supported by its founder Sam Bankman-Fried and other insiders of the onetime cryptocurrency giant.