The US Court nods three arrows to raise the FTX claim to $ 1.53B.
The US Bankruptcy Court approved the collapsed encryption hedge funds to the brilliant Crypto Exchange FTX from $ 120 million to $ 1.55 billion.
Judge John Dorsey was not appropriate for the 3AC liquidator’s revised claim (POC), and an unfair attempt to slow bankruptcy procedures rejected FTX’s debtor’s claim.
In the US Bankruptcy Court on the Delaware District on March 13, Dorsey agreed that 3AC liquidator provided sufficient notification of the possibility of modification after the 3AC liquidator analyzed sufficient notice of his claim and all available information. He said that all delays occurred because the FTX did not immediately share the records.
Judge John Dorsey approved the initiative of the three arrow capital, which had been destroyed by liquidators to increase the claim of FTX to $ 15.3 billion. source:
“The evidence suggests that most of the delayed submission of the corrected claim certificate was caused by the debtor itself.
“Evidence was also diligent in attempting to get information, and despite the possession of the entire information, debtors repeatedly delayed the delay.”
The 3AC liquidator filed $ 120 million in the FTX bankruptcy case in June 2023. In November 2024, they insisted on claims, including violations of contracts, unfair reinforcement and trust obligations.
The liquidators argued that the FTX had $ 1.55 billion in the liquidated hedge fund assets in order to solve $ 13.3 billion in debt in 2022.
They argued that transactions could be avoided, harmful to 3AC creditors, and the FTX debtors delayed providing information that found liquidation.
The FTX debtors opposed the revised claim. Originally, POC said it was insufficient to inform the personality and amount of the 3AC liquidator and should not be allowed because it was too late.
relevant: FTX application for bankruptcy two years ago -What is happening now?
Prior to collapse in June 2022, Three Arrows Capital was once one of the industry’s largest encryption hedge fund and more than $ 3 billion.
The liquiders also pursued claims for Terraform Labs, a collapsed crypto company, through $ 1.3 billion in Terra’s bankruptcy case.
At the same time, the FTX, which applied for bankruptcy in November 2022, is making its own recovery efforts to reclaim funds.
In November last year, three lawsuit against Sky Bridge Capital and founder Anthony Scaramucci filed a lawsuit to collect funds from sponsorship and investment contracts.
In July 2021, another lawsuit was filed against the Crypto Exchange Binance and the former CEO to recover $ 17.6 billion in cryptocurrency sent to Exchange as part of the repurchase contract in July 2021.
Waves founder Aleksandr IVANOV also crosses $ 80 million in encryption by Alameda Research in 2022.
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