Home » Senators, States and Creditors Challenge Sullivan & Cromwell’s Lead Role in FTX Bankruptcy

Senators, States and Creditors Challenge Sullivan & Cromwell’s Lead Role in FTX Bankruptcy

by John Hensley


U.S. Bankruptcy Judge John Dorsey of the District of Delaware rebuffed four U.S. senators in a Wednesday hearing regarding the senators’ unsolicited request that Dorsey appoint an independent examiner in the FTX bankruptcy, calling the ex parte communication “inappropriate” and stating that it would not factor into his decisions.

However, two upcoming hearings stand between Sullivan & Cromwell and its ability to represent FTX as lead bankruptcy counsel with complete independence. A Jan. 20 hearing will determine whether the New York law firm will lead the bankruptcy altogether, while a Feb. 6 hearing will decide whether the court will appoint an independent examiner to investigate and report on the cause of crypto firm’s collapse.



Source link

You may also like