An investigation into FTX’s collapse by an examiner could cost the firm upwards of $100 million without providing any benefit to creditors or equity holders, argues lawyers representing the bankrupt crypto exchange.
The arguments were part of a Jan. 25 objection to a motion from the United States Trustee in December, which called for the judge to appoint an independent examiner to ensure any investigations are transparent and their findings made public.
This will be fascinating.4 Senators submitted a letter asking for an Independent Examiner. Will they do more?Several States have entered the FTX case.
Will they lend support for an Examiner? The SEC asked for the Independent Examiner in Enron. Will they say anything here? https://t.co/KiSZKYonCDFTX lawyers argued that creditors would not benefit from an examiner investigation that duplicates investigations led by FTX’s CEO John J.Read more on cointelegraph.com