Ftx bankruptcy hearing is set to begin on wednesday at 9 a.m. est in the district of delaware bankruptcy court and will be livestreamed on youtube. sam bankman-fried’s attorneys are expected to participate in the hearing, as well as attorneys from the montgomery mccracken walker & rhoads law firm. lightspeed strategic partners has also filed documents to have its legal team included in the ftx bankruptcy case. the court will consider motions that include allowing the attorneys to represent bankman-fried’s interests, as well as potential deadline extensions for the sale of ftx’s distressed assets, and the process for auctioning those assets.
Ftx bankruptcy hearing is scheduled to take place on wednesday in the district of delaware bankruptcy court. ftx had originally signed a 6-year lease with a security deposit of $32,000 for an office at 655 15th street n.w. in d.c. the court will also discuss ftx’s proposed termination of the lease, which would be marked as mutually terminated as of december 21st and the landlord would keep the security deposit while the company waived its rights to any other claims. edward mosley, ftx’s new financial advisor, and kevin cofsky, the company’s investment banker, were both set to testify in person on the value of the debtors’ customer list and other matters.
Court will also consider how ftx got to this point, and why its executives are now working with the justice department in the criminal case against bankman-fried. prior to her resignation on november 11th, amy wu had been leading “ventures, gaming, m&a and commercial initiatives” for the vc firm that had invested in ftx. bankman-fried had maintained in interviews and on twitter that he wanted to assist the restructuring team in making things right, however john ray had cut off bankman-fried’s access to financial records, instructed banks not to give him access to the company’s accounts, and fired his inner circle. ftx now has until april 15 to produce a complete account of their assets and liabilities.
https://decrypt.co/118889/next-ftx-bankruptcy-hearing-delaware-sbf
