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FTX debtors and Bahamas liquidators settle on asset recovery strategy
Jan. 7, 2023 at 2:00 am
By Mike Dalton
The two halves of FTX — its debtors in the U.S. and its liquidators in the Bahamas — have agreed on an asset recovery plan according to a Jan. 6 press release.
John J. Ray III, FTX’s CEO and Chief Restructuring Officer, said that although discussions will continue, many issues have been settled. He stated:
“We would like to thank all of the Joint Provisional Liquidators of FTX DM… There are some issues where we do not yet have a meeting of the minds, but we resolved many of the outstanding matters and have a path forward to resolve the rest.”
The full press release indicates that the two parties will cooperate on various efforts. The parties will share information, arrange the return of property, and file litigation against other parties. The two will also attempt to maximize stakeholder recoveries — presumably meaning that former FTX customers will be made whole.
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