Mark Shapiro on FTX, After Living Lehman & Distress Round-Up: State of Distressed Debt
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FTX in the Bahamas - Chapter 15
The Security Commission of the Bahamas took action to freeze assets of non-detter, so not a debtor in Delaware. The chapter 15 petition seeking recognition of these provisional liquidation proceedings was filed in the Bank of Superceding in the South of New York. There were allegations that there was hacking and potential removal of assets by the Bing and the government after the chapter 11 proceeding was filed in Delaware. And we come to the chapter 15 recognition itself which will happen probably soon likely this month.
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