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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. December 15, 2023

    FTX's $24B Tax Bill Could Wipe Out Any Creditor Recovery

    A process intended to resolve a $24 billion dispute in FTX Trading Ltd.'s bankruptcy case threatens to render moot the fallen crypto company's plan to repay millions of customers who lost money after the exchange collapsed in late 2022, experts told Law360.

  2. December 12, 2023

    FTX Says It Doesn't Have To Pay $24B Tax Bill To IRS

    FTX recently told a Delaware bankruptcy judge the company stands by its estimate that its losses mean the cryptocurrency exchange doesn't owe anything to the Internal Revenue Service, which billed the bankrupt business for $24 billion in unpaid taxes.

  3. December 06, 2023

    Feds Say No Reliable Proof For FTX's $0 Tax Estimate

    The U.S. government shot back Wednesday at FTX's request that a Delaware bankruptcy judge estimate its tax liability at zero, saying the bankrupt cryptocurrency exchange is asking the court to accept tax returns based on admittedly fraudulent records at "face value."

  4. December 06, 2023

    FTX Says Ch. 11 Plan Coming Before Year's End

    Cryptocurrency platform FTX told a Delaware bankruptcy judge late Tuesday that it will be filing a Chapter 11 plan of reorganization before the end of the year and intends to do so with broad support from parties in interest.

  5. November 30, 2023

    FTX Says IRS Tax Estimate Is $24B Too High

    Bankrupt cryptocurrency exchange FTX asked a Delaware bankruptcy judge to set its tax bill at zero dollars, arguing that the Internal Revenue Service's estimated $24 billion in claims threaten to halt any progress in getting a Chapter 11 plan approved.

  6. November 29, 2023

    FTX Gets Approval To Put $744M In Crypto On The Market

    A Delaware bankruptcy judge on Wednesday gave bankrupt cryptocurrency exchange FTX permission to put $744 million in cryptocurrency up for sale, finding that converting the crypto to cash was in the best interests of creditors.

  7. November 27, 2023

    FTX Settles BlockFi Dispute Over $744M Crypto Sale

    Bankrupt cryptocurrency exchange FTX said it has settled lender BlockFi's objection to its proposed sale of $744 million in cryptocurrency held in Grayscale Investments trust funds, agreeing to explicitly reference liens the lender is asserting on the funds.

  8. November 20, 2023

    Ex-FTX Europe Exec Says Ch. 11 Filing Was Unauthorized

    A former FTX executive told a Delaware bankruptcy court that the collapsed cryptocurrency exchange's European subsidiary didn't get approval by the subsidiary's board of directors before it filed for Chapter 11 bankruptcy last year as required by Swiss law, meaning the satellite company's case should be dismissed.

  9. November 17, 2023

    BlockFi Wants Liens Acknowledged In FTX Asset Sale

    Cryptocurrency lender BlockFi Friday asked a Delaware bankruptcy judge to make sure the liens it's asserting on $744 million in crypto held in Grayscale Investments trust funds are protected as crypto exchange FTX seeks to convert the assets to cash.

  10. November 15, 2023

    FTX Can Pay Foreign Customer Group's Ch. 11 Fees

    FTX Trading Ltd. received approval Wednesday to pay an ad hoc group of creditors' professional fees and expenses after the Office of the U.S. Trustee dropped its objection to the measure and a Delaware bankruptcy judge ruled that it would benefit the estate and FTX's effort to confirm a Chapter 11 plan.