Genesis Files for Chapter 11
The Breakdown
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FTX SNC Debtor's Counsel - A New Development in the Worm Turns Again
The creditors who object to Sullivan and Cromwell serving as debtor's counsel have filed an emergency request to delay the hearing scheduled for later this morning. The reason for the requested delay is the last minute filing by Daniel Friedberg. Fast forward to 10.25 a.m. James Murphy again tweets FTX hearing is underway. Apparently the U.S. trustee has changed its position and now agrees to the motion to appointSullivan and Cromwell the debtor's counsel. Then 11 minutes later, wow, somebody named Daniel Friedberg has joined the Zoom call for the hearing. Four minutes after that, apparently it is the real Daniel Friedberg appearing on Zoom. Judge refuses to allow Friedberg to testify
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