NASSAU, Bahamas — FTX’s US debtors who are in Chapter 11 bankruptcy and the joint provisional liquidators (JPL) who are overseeing the winding up of FTX Digital Markets (FTX DM) in The Bahamas are once again working to reach an agreement over access to the exchange’s data, The Nassau Guardian reported on Thursday, January 5, in an article written by Assistant Editor Travis Cartwright-Carroll.
The JPLs and FTX’s new CEO John Ray III have exchanged blows in the last few weeks over the issue.
Ray has argued that the JPLs, along with the Securities Commission of The Bahamas (SCB) and the government of The Bahamas worked with former FTX CEO Sam Bankman-Fried to undermine the bankruptcy proceedings.
Ray also criticized the SCB’s decision to transfer hundreds of millions of dollars worth of FTX digital assets into a secure wallet controlled by the SCB in the days after FTX filed for Chapter 11 bankruptcy.
The SCB defended the decision, noting that it was done with the approval of the Supreme Court. It said it transferred $3.5 billion in assets to a digital wallet.
During a status hearing in a Delaware court yesterday, James Bromley, counsel for FTX’s US debtors said, “We have been in conversations over the past several days, notwithstanding the volume of papers that have been filed.
“We’ve also been trying to have conversations about moving forward on a constructive basis and based on communications that we’ve been having between our offices over the past several hours, I believe it is appropriate to inform the court that we would like additional time to reach an agreement and that we would not need to go forward on Friday with respect to the hearing on the motion to compel.”
Bromley asked that the parties meet next week.
See complete article in The Nassau Guardian at https://thenassauguardian.com/ftx-us-and-jpls-working-to-reach-agreement-over-access-to-ftxs-data/?fbclid=IwAR2dpEwuPUvPtKzoF546QrP6lC6wJPtYFc-aEhH81WMWecW6xrcXqu6CCpM
