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:

September 03, 2024
Chapter 11 Check-In: FTX's $13B Bankruptcy

Almost two years after FTX entered bankruptcy in November 2022, the defunct cryptocurrency exchange is working toward securing confirmation of a Chapter 11 plan that would make swindled customers whole. It has also fought off a bid to disqualify its Sullivan & Cromwell legal team on the grounds that the law firm was conflicted by its prepetition representation of the company.
August 26, 2024
US Trustee Raises Release Concerns With FTX Ch. 11 Plan

The U.S. Trustee's Office has lodged an objection to FTX's Chapter 11 plan with 10 reasons why the proposed resolution for the mammoth crypto bankruptcy is flawed, including releases that are overbroad and don't carve out a high-profile data breach from their terms.
August 21, 2024
Top Bankruptcy Cases Of 2024: Midyear Report

Famous debtors, major U.S. Supreme Court rulings and "shocking" turnarounds have headlined an already busy 2024 in bankruptcy, and elevated interest rates are expected to continue pushing more companies to the brink this year, experts told Law360.
August 19, 2024
FTX Sees Push For Disputed Claim Reserve In Ch. 11 Plan

The litigation administrator for the Celsius Network Chapter 11 plan and the liquidators of Three Arrows Capital have asked a Delaware bankruptcy court to reject FTX's Chapter 11 plan, unless it reserves funds for disputed claims, as part of a stream of objections filed against the onetime cryptocurrency exchange giant's reorganization proposal.
August 01, 2024
FTX's Ch. 11 Plan Sweetens Crypto Creditor Claim Market

A byproduct of the collapse of large cryptocurrency businesses — their bankruptcy claim market — has developed as an unlikely source of security and a rare positive outcome in the fallout from the so-called crypto winter, partly reflected in BlockFi's sale of roughly $875 million in allowed claims against FTX.
July 23, 2024
FTX Reaches Deal On $4M Phala Token Claims In Ch. 11

Bankrupt cryptocurrency platform FTX Trading Ltd. asked a Delaware bankruptcy judge to let it pay $960,000 to crypto issuer Phala Ltd. to settle that company's $4 million claim against FTX and its affiliates.
July 22, 2024
Giuliani In Limbo, Guo Faces Ch. 11 Trustee Suit

The court-appointed watchdog for Miles Guo's bankruptcy has unpaused a civil racketeering conspiracy case against the Chinese billionaire after his criminal RICO case resulted in a conviction, ex-New York City mayor Rudy Giuliani's Chapter 11 case has still yet to be dissolved, and a new bankruptcy judge has ascended to the bench in New York.
July 16, 2024
Nonprofit Wants Out Of 'Fatally Flawed' $5M FTX Suit

A Berkeley, California, nonprofit asked a Delaware bankruptcy court to dismiss a suit from FTX Trading Ltd. seeking to claw back $5 million in donations, calling FTX's effort "fatally flawed."
July 15, 2024
FTX Proposes $4B Settlement Of CFTC's Massive $52B Claim

FTX Trading Ltd. asked a Delaware bankruptcy judge to sign off on a settlement with the U.S. Commodity Futures Trading Commission, saying the agreement to allow the agency a $4 billion claim in its bankruptcy would end a fraud civil enforcement action and address the "most significant single creditor" in the crypto currency exchange's Chapter 11 case.
July 09, 2024
FTX Bahamas Says Celsius Can't Ask US Court To OK Suit

The foreign representatives of FTX Digital Markets Ltd. asked a Delaware bankruptcy judge to block the litigation administrator of Celsius Network LLC from suing the company in New York, saying the purpose of the Chapter 15 case is to avoid precisely this kind of assault.

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