FTX was given the go-ahead to loosen its purse strings to pay for business expenses amid its own bankruptcy proceedings — the overall cost of which promises to sap the creditors' pot.
FTX was given the go-ahead to loosen its purse strings to pay for business expenses amid its own bankruptcy proceedings — the overall cost of which promises to sap the creditors' pot.: The court on Monday granted FTX's request to pay the folks that they employ in what they call "ordinary course of business" — for FTX that means an army of lawyers — as well as any outstanding sums owed to service providers.
Small wonder why some claimants bail and sell their settlement rights away for pennies on the dollar.If FTX is able to recover billions to divide amongst its creditors and, like Enron, 10% is paid out in legal expenses, those costs would easily exceed the $40 million FTX spent on
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
FTX bankruptcy judge ends $135 million naming-rights deal for Miami Heat's FTX ArenaFTX Arena will be striped of its name, after a judge ended the deal between FTX and Miami-Dade County, according to several reports.
Read more »
FTX units on auction block draw 117 interested buyers: Court filingFTX may have collapsed, but its subsidiaries seem to be up for grabs. There are at least 117 parties interested in buying the leftovers, including FTX Japan, FTX Europe, and more.
Read more »
BlockFi's CEO cashed out $9 million after FTX's multimillion loanBlockFi's CEO cashed out $9 million from the crypto platform just after FTX gave it a multimilllion-dollar support loan
Read more »
SBF's ex-roommate Nishad Singh wants to cut deal with FTX probe: reportFormer top FTX engineer who lived in Sam Bankman-Fried's Bahamas penthouse is trying to cut a deal with fraud prosecutors, report says
Read more »
Coinbase lays off a fifth of staff as crypto downturn continuesIts CEO cites the continued fallout from the FTX collapse as one reason.
Read more »
Senators voice concerns over law firm's role in FTX bankruptcyFour bipartisan lawmakers called for a 'disinterested examiner' to be appointed to FTX's bankruptcy proceedings in a letter to a judge on Monday.
Read more »