December 14, 2022
FTX CEO John Ray. Photo: AP
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FTX Bahamas’ liquidators and their US adversary yesterday suspended all scheduled legal filings as they bid to resolve their dispute outside the courtroom.
An FTX executive breached Bahamian Immigration regulations by working outside the scope of his work permit, court documents have revealed.
FTX’s US chief yesterday branded a Bahamian entrepreneur’s bid to protect his rights over aircraft worth $28m as “nonsensical” and sought to dismiss his “oral ‘handshake deal’” with Sam Bankman-Fried.
A BAHAMIAN aviation entrepreneur yesterday launched legal action against FTX’s US chief to safeguard his ownership interest in two aircraft valued at a combined $28m
FTX MEETING CLAIM DENIED BY PM OFFICE: US chief says founder’s father was to meet Davis - but PM was in Egypt
The Prime Minister’s Office last night refuted claims that he was due to meet Sam Bankman-Fried’s father on the day FTX imploded because he was away battling on The Bahamas’ behalf against climate change.
FTX’s US chief yesterday dismissed the $9.15bn claim submitted by his Bahamian counterparts as “invalid” and “redundant” while revealing that the crypto exchange’s local real estate holdings have been valued at up to $214m.
FTX’s US chief is accusing his Bahamian counterparts of seeking to “shield from scrutiny” details of their interviews with Sam Bankman-Fried and other key insiders that he now wants handed over.
FTX’s US chief has resumed battle with the crypto exchange’s Bahamian liquidators by asserting that their “meddling is hindering” efforts to return recovered assets to former clients and creditors.
FTX’s Bahamian liquidators have accused their US adversary, aided by its local law firm, of going behind their backs in attempting to sell $256m worth of real estate domiciled in this jurisdiction.
An attorney and “former Bahamian government official” was allegedly offered a $1m “bonus” to swiftly obtain the necessary licences so that FTX could move to this nation, it was asserted yesterday.
FTX's Bahamian liquidators have accused their US adversaries of "breaching every single" co-operation pledge in just four short months as they urged the Supreme Court to "sort it out" with Delaware.
An FTX creditor/investor group yesterday leapt to The Bahamas defence by branding claims that the Government was "in cahoots" with Sam Bankman-Fried as "shockingly inappropriate".
FTX's Bahamas liquidators face a three-way battle to regain control of some $143m seized by the US Justice Department after their US counterpart asserted he "stands first in line" to recover this asset from the federal authorities.
FTX's US chief yesterday blasted The Bahamas' "closed legal system" and argued his team will "find it difficult to protect our rights" due to challenges in gaining approval for their chosen UK KC to act before this nation's courts.
FTX's Bahamian provisional liquidators have their own data bargaining chips, it has emerged, as they control "electronic devices" used by Sam Bankman-Fried and his inner circle that their US counterparts are eager to access.
FTX’s US chief yesterday unveiled a $460m settlement with a Bahamas-based fund manager that received hundreds of millions of dollars in the months leading up to the crypto currency exchange’s collapse.
FTX’s US chief yesterday shattered the temporary ceasefire with the Bahamian provisional liquidators by launching a legal bid to deny them access to any assets caught in the crypto exchange’s multi-billion dollar collapse.
FTX’s US chief has admitted to the Delaware Bankruptcy Court that clients and creditors were “fortunate” The Bahamas acted to safeguard assets from theft by hackers in a total reversal of his previous attacks.
FTX’s US chief has admitted his attacks on The Bahamas’ integrity were “misguided” by agreeing to work with the failed crypto exchange’s local liquidators, the Attorney General argued last night.
FTX Trading Limited has agreed on terms for “mutual cooperation” on the chapter 11 in the US and the provisional liquidation in The Bahamas.
The Securities Commission’s top executive has accused FTX’s US chief of being “in contempt” of the Supreme Court by blocking access to the collapsed crypto exchange’s cloud-stored system and digital assets.
FTX’s Chapter 11 chief yesterday alleged to the US Congress that efforts to obtain “clarity” over the Securities Commission’s action to safeguard $300m in client assets had been “shut down” by The Bahamas.
FTX’s new US chief yesterday confirmed he is probing a “highly irregular” transaction with Bahamas links where Sam Bankman-Fried’s hedge fund paid an “off the charts” sum to buy into a small American bank.
FTX CEO John Ray III said the Chapter 11 process in Delaware is the only clear option that gives visibility to customers about what happened to the fallen crypto giant and a chance to recoup their money, as he lambasted the process in The Bahamas as not transparent.