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Buyers for FTX’s $256m real estate target 30% discounts

Deal-hunters seeking discounts of up to 30 percent are circling FTX’s $256m Bahamian real estate holdings as local liquidators move to secure realtors who will market 34 properties for sale.

FTX’s Bahamian liquidators did ‘everything in their power’

A SUPREME Court judge has backed assertions by FTX’s Bahamian liquidators that they “have done everything within their power to strike the best possible deal” in settling the dispute with their US counterpart.

FTX Bahamas: ‘Best deal to avoid asset extinction’

FTX’s Bahamian liquidators are asserting the settlement with their US adversary “represents the best deal” possible given that lengthy legal battles would slash creditor recoveries “possibly to extinction”.

‘Landmark breakthrough’: FTX Bahamas strikes new Ray deal

FTX’s Bahamian liquidators yesterday hailed the settlement reached with their US counterpart as “a landmark breakthrough” that will avoid “years of protracted litigation” which would cost creditors dearly.

Liquidators control 30% of FTX Bahamas cash

FTX’s Bahamian liquidators have to-date gained control of just 30 percent of the local subsidiary’s $255.2m cash assets despite locating fresh recoveries in Switzerland.

Deal’s ‘equal treatment’ for 53k FTX Bahamas claims

FTX’s Bahamian liquidators “are in the advanced stages” of negotiating a “global settlement” with their US counterpart that will ensure equal treatment for their near-53,000 creditors.

FTX Bahamas demanding $9.15bn from US affiliates

FTX’s Bahamian liquidators are seeking to recover a total $9.15bn from the crypto exchange’s US entities with some 84 percent of this sum involving assets that were “misappropriated” prior to its late 2022 collapse.

‘FTX chief planned $256m sell-off behind our backs’

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.

FTX Bahamas: Only we can pursue void payouts

FTX's Bahamian liquidators are asserting they may be the only ones "lawfully" able to pursue "material volumes" of client withdrawals that occurred around the time of the exchange's collapse and may thus be deemed void.

FTX Bahamas warns of $143m US DOJ battle

FTX’s Bahamian liquidators say it is increasingly likely they will have to battle the US Justice Department in the courts to recover $143m given that prospects of an amicable resolution have become “more remote”.

FTX Bahamas charges US broke 'every single' pledge

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.

Claims Bahamas 'in cahoots' with SBF are 'shockingly inappropriate'

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".

Bahamas liquidators slam US FTX chief's 'underhand' tactics

FTX's Bahamian liquidators yesterday accused their US adversaries of employing "underhanded" tactics to seize control of all the crypto exchange's clients and assets - including those that fall under their winding-up process.

FTX's US chief tells Bahamian liquidators: The $143m is mine

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 Bahamian liquidators possess own data leverage

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 Bahamas liquidators slam ‘inflammatory’ claims

FTX’s Bahamian liquidators yesterday slammed their US counterparts for “bizarre” and “inflammatory” claims while they themselves were accused of seeking to “torpedo” the Chapter 11 proceedings for the failed crypto exchange.

Commission seeks FTX $426m asset resolution

The Securities Commission is anxious to resolve the ownership of $426m in FTX digital assets under its control due to the ongoing costs it is incurring to secure them, it has been revealed.

FTX wind-up faces stall absent ‘claw back’ rule

FTX’s Bahamian liquidators say they need the Supreme Court to determine who the local subsidiary’s customers truly are so they can “claw back” preferential payments and prevent the winding-up from “stalling”.

Bahamian liquidators fire FTX warning shot

FTX’s Bahamian liquidators yesterday warned their US counterparts that the failed crypto exchange’s $446m claim against another digital assets firm will not be resolved unless their interests are satisfied too.

Bahamas liquidators set to access ‘elusive’ FTX data

FTX’s Bahamian liquidators believe they will soon gain access to critical records that have “so far eluded them” while avoiding the risk of costly and time-consuming legal battles in Delaware.

Probe into ‘legitimacy’ of $7.7bn FTX withdrawals

FTX’s Bahamian liquidators are probing whether $7.7bn was withdrawn from its local subsidiary via “legitimate” transactions as they yesterday revealed virtually all countries are represented in its 2.4m-strong client base.

Bahamian liquidators say ‘no’ to DOJ FTX examiner

FTX’s Bahamian liquidators are opposing the US Justice Department’s bid for an investigator to probe the crypto exchange’s collapse on the grounds it is overkill and will cost creditors “tens of millions of dollars”.

FTX’s Bahamas liquidators beaten to $143m by DOJ

The bid by FTX’s Bahamian liquidators to take control of $143m held in US bank accounts was rendered “moot” - at least temporarily - after the assets were seized by the US federal authorities.

FTX Trading Limited agrees on 'mutual cooperation' terms

FTX Trading Limited has agreed on terms for “mutual cooperation” on the chapter 11 in the US and the provisional liquidation in The Bahamas.

‘Collusion’ document contradicts such claim

FTX’s Bahamian liquidators are asserting that the document being cited as evidence of this country’s alleged collusion with Sam Bankman-Fried sparked the very court action that led to his removal.

FTX LIQUIDATOR IS FROZEN OUT: Access to company records blocked – and documents could be lost forever

The joint provisional liquidators for FTX’s Bahamian subsidiary have revealed a month-long block on access to the company’s records is “frustrating” their efforts to secure and protect assets.

Bahamas liquidators detect ‘serious fraud’ signs at FTX

FTX’s Bahamian provisional liquidators have yet to gain control of all its assets amid signs that “serious fraud and mismanagement” may have caused the group’s collapse, it has been revealed.

Regulator ‘freezes’ FTX and sends in liquidator

Regulators yesterday moved to protect clients of The Bahamas’ flagship crypto currency investor by “freezing” its assets, and seizing control of the company, amid reports it acquired $74m in local real estate this year alone.

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