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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. January 20, 2023

    Sullivan & Cromwell Gets Green Light To Rep FTX In Ch. 11

    A Delaware bankruptcy judge on Friday approved the appointment of Sullivan & Cromwell LLP — which had come under fire from several directions and from members of Congress — as Chapter 11 counsel for FTX, dismissing arguments by a pair of FTX customers that the firm was conflicted because of its prior work for the cryptocurrency exchange.

  2. January 18, 2023

    $415M In Crypto Hacked Since Ch. 11, FTX Tells Creditors

    Bankrupt cryptocurrency exchange FTX Trading Ltd. has told unsecured creditors that $415 million in cryptocurrency has been lost to hackers since the company filed for Chapter 11 in November, even as it has recovered $5.5 billion in liquid assets in that time period.

  3. January 17, 2023

    FTX, US Trustee Spar Over Sullivan's Bid To Be Ch. 11 Counsel

    FTX on Tuesday pushed back on a bid from the U.S. Trustee's Office to block Sullivan & Cromwell's appointment as its bankruptcy counsel, saying there's no conflict of interest between the law firm and the defunct cryptocurrency exchange, especially since Sullivan was the one that called the feds on the operation ahead of its bankruptcy filing.

  4. January 13, 2023

    Voyager Sells Digital Assets For $1B, FTX Finds $5B In Crypto

    Cryptocurrency debtors put billions of dollars in play this week as Voyager Digital Holdings got the nod for a $1 billion sale of assets and FTX Trading located $5 billion of its own assets. Over at the U.S. Supreme Court, the justices wrestled with Puerto Rican sovereignty in a case involving the island's fiscal board. This is the week in bankruptcy.

  5. January 11, 2023

    Miami-Dade Gets Court OK To Purge FTX From Arena Name

    Miami-Dade County got the green light Wednesday to scrub FTX's name from its hometown arena with an order from the Delaware judge presiding over the defunct cryptocurrency exchange's Chapter 11 case.

  6. January 11, 2023

    Senators' Sullivan & Cromwell Qualms Won't Sway FTX Judge

    FTX's bankruptcy judge on Wednesday brushed off four U.S. senators' concerns about the ties between law firm Sullivan & Cromwell and the defunct cryptocurrency exchange, saying he won't take "inappropriate ex parte communication" into account when considering the approval of counsel in the case.

  7. January 11, 2023

    FTX Says $5B In Assets Located Since Ch. 11 Filing

    At a hearing where a Delaware bankruptcy judge approved procedures to market some assets of bankrupt cryptocurrency exchange FTX Trading Ltd., attorneys said the company has located about $5 billion in cash and liquid crypto assets since filing for bankruptcy in November.

  8. January 10, 2023

    Tom Brady, Gisele Bundchen Lose Big In FTX Ch. 11

    Football star Tom Brady, model Gisele Bündchen and New England Patriots owner Robert Kraft are among a host of prominent investors who saw the value of their equity plummet when cryptocurrency exchange FTX imploded last year, according to a list of equity holders filed in the bankruptcy process.

  9. January 10, 2023

    Sullivan & Cromwell Faces Congressional Heat Over FTX Work

    A bipartisan group of U.S. senators questioned Sullivan & Cromwell's representation of failed cryptocurrency exchange FTX in its Chapter 11 proceedings and supported the appointment of an outside examiner to the case due what they said is a troubling relationship between the company and its counsel.

  10. January 09, 2023

    FTX Defends Plans To Market Business Units In Ch. 11

    Bankrupt cryptocurrency exchange FTX Trading Ltd. has defended its proposed bidding procedures that would govern the potential sale of certain of its business units, telling a Delaware court that the timeline it has submitted will help determine the value of the assets in question.