A lawyer representing the interim liquidator, which oversees FTX’s property, has refuted claims that Bahamian officers used the collapse of the cryptocurrency trade to profit residents within the first place.
On the December 16 listening to on FTX Buying and selling’s chapter proceedings, White & Case associate Jason Zakia mentioned the debtor’s claims about FTX’s property and the Bahamian authorities have been “completely baseless.” Zakia mentioned the authorized group represented an interim liquidator whose appointment was confirmed by the Supreme Courtroom of the Bahamas in November and who was “not concerned” in FTX’s downfall previous to its chapter.
“In a world case like this, there are actually many jurisdictions with reliable and materials pursuits, together with the Bahamas,” Zakia mentioned. “The Bahamian authorized system is an unbiased authorized system that needs to be revered. Bahamas — There have been many allegations and defamations directed towards the Bahamian authorities, the Bahamian authorized system.”
He clarified:
“One of many suspicions […] The Bahamians have been in some way facilitating funds from the system to Bahamian residents in place of different collectors. [Joint provision liquidators] It was particularly appointed as a part of an effort to curb such exercise. ”
FTX filed for Chapter 11 chapter within the Delaware District of the US on November 11. The chapter courtroom held a number of hearings as a part of its proceedings coping with how one can get rid of the corporate’s property within the curiosity of FTX’s debtors and collectors. His subsequent listening to, which is open to the general public, is scheduled for January eleventh and can doubtless cowl the cryptocurrency trade’s naming rights deal at FTX Area.
Associated: FTX Bahamas Co-CEO Ryan Salame whistled to FTX and Sam Bankman-Fried
Within the Bahamas, former FTX CEO Sam Bankman-Fried has been despatched to jail following indictment by the US Division of Justice following a December 13 bail listening to. Authorities companies have warned officers that no arrests have been made.
