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CATEGORY: trustee

FTX lawyers: Examiner could cost $100M and ‘provide no benefit’
Author: Cointelegraph By Luke Huigsloot
United States
Source: Cointelegraph.com News
Jan 26, 2023 08:20

FTX lawyers: Examiner could cost $100M and ‘provide no benefit’

FTX lawyers, joint provisional liquidators of FTX US and the Bahamas and a committee of creditors have all opposed the appointment of an independent examiner.

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Non-US FTX Customers Want Bankruptcy Files Suppressed
Hong Kong
Source: Blockchain News
Jan 04, 2023 06:55

Non-US FTX Customers Want Bankruptcy Files Suppressed


A group of non-U.S. FTX customers wants court records to redact their identities and sensitive information. FTX.com's $1.9 billion frozen assets are represented by the Ad Hoc Committee. On December 12, the U.S. Trustee objected to the initial motion. (Read More)

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Celsius wants to extend the deadline for claims as lawyer fees mount
Author: Cointelegraph By Luke Huigsloot
United States
Source: Cointelegraph.com News
Dec 29, 2022 08:20

Celsius wants to extend the deadline for claims as lawyer fees mount

Administrative expenses from the bankruptcy proceedings have already topped $53 million, and continued delays are chipping away at Celsius’ estate.

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FTX was the "fastest" company collapse in American history, says U.S. Trustee.
Hong Kong
Source: Blockchain News
Dec 02, 2022 10:35

FTX was the "fastest" company collapse in American history, says U.S. Trustee.


The US Trustee overseeing FTX's bankruptcy proceedings has requested an independent investigation into its demise. In a Dec. 1 motion, U.S. Trustee called the defunct exchange the "fastest large business collapse in American history". An independent examiner has been requested by the Department of Justice. Independent examiners are usually called in when creditors want them or when unsecured debts surpass $5 million. Trustee Andrew Vara said debtors "suffered an almost unparalleled fall in value" over eight days in November. The U.S. Attorney's Office for the Southern District of New York and Securities and Exchange Commission have allegedly submitted many requests to investors. (Read More)

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Celsius bankruptcy case Trustee slams $3M employee bonus motion
Author: Cointelegraph By Luke Huigsloot
United States
Source: Cointelegraph.com News
Oct 28, 2022 08:20

Celsius bankruptcy case Trustee slams $3M employee bonus motion

The Trustee has objected to the retention bonus, citing a lack of sufficient information within the motion to warrant such a high payout and a lack of clarity around whether any recipients should be considered insiders.

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Celsius bankruptcy judge gives the nod for independent examiner probe
Author: Cointelegraph By Luke Huigsloot
United States
Source: Cointelegraph.com News
Sep 15, 2022 08:20

Celsius bankruptcy judge gives the nod for independent examiner probe

Following a motion in August, U.S. Bankruptcy Judge Martin Glenn has signed off on a request to appoint an examiner in the Celsius case.

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US officials appeal protections for Voyager execs in Binance.US sale
Author: Cointelegraph By Luke Huigsloot
United States
Source: Cointelegraph.com News
Mar 15, 2023 08:20

US officials appeal protections for Voyager execs in Binance.US sale

The DOJ disagrees with the legal protections given to those involved in the Voyager-Binance.US sale saying the court “improperly” exceeded its authority.

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