Bahamas supreme court appoints liquidators for FTX assets

The Bahamas Securities Commission has confirmed the appointment of Kevin Cambridge and Peter Greaves of PricewaterhouseCoopers as interim liquidators of the assets of bankrupt cryptocurrency exchange FTX, according to a Nov. 14 report. made it clear. press statement.

A press statement reveals that Bryan Sims has been appointed as a court-supervised interim liquidator on November 10.

The financial regulator said it recognizes the “scale, urgency and international implications” of FTX’s surrender. As such, regulatory powers had to be used “quickly” to further protect the interests of FTX Digital Markets Ltd’s global clients, creditors and other stakeholders.

The Commission also expressed its intention to cooperate with other regulators, as the case is “multi-jurisdictional in nature”.

FTX is headquartered in the Bahamas and is currently under investigation by local authorities. Local securities regulators have denied allowing FTX to resume withdrawals in the country, saying it has frozen the assets of the bankrupt exchange.

FTX says its creditors exceed 1 million

In another court on November 14 filingFTX said it could have over 1 million creditors instead of the 100,000 previously mentioned, and said it would submit a consolidated list of its top 50 creditors by Nov. 28. I requested permission from the court.

Meanwhile, court filings revealed that new independent directors have been appointed to each of FTX Group’s major parent companies.

  • Joseph J. Farnan, Jr. of FTX Trading Ltd. to serve as Lead Independent Director
  • Matthew A. Doheny of FTX Trading Ltd.
  • Mitchell I. Sonkin of West Realm Shires Inc.
  • Matthew R. Rosenberg of Alameda Research LLC.When
  • Rishi Jain of Clifton Bay Investrnents LLC

Meanwhile, the Financial Times report FTX’s bankruptcy proceedings stalled after it did not formally file a motion to commence the proceedings on the first day.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button