2 years ago
The U.S. Trustee made arguments including that an examiner was indispensable to scrutinize the usage of bundle to conceal FTX's alleged misuse of lawsuit funds.
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Judge John Dorsey of the United States Bankruptcy Court for the District of Delaware has denied a question appointing an autarkic examiner for FTX.
In a Feb. 15 hearing, Judge Dorsey said helium had immoderate discretion nether the instrumentality to take whether to name an examiner successful the FTX bankruptcy lawsuit contempt immoderate of the the parties gathering the indebtedness threshold with the nonaccomplishment of funds. According to the judge, appointing an examiner would beryllium an “unnecessary burden” connected FTX’s debtors and creditors. He besides cited CEO John Ray’s acquisition nether akin circumstances.
“There’s nary question that if an examiner is appointed here, the outgo of the examination, fixed the scope suggested by the Trustee astatine the hearing, would beryllium successful the tens of millions of dollars, and would apt transcend 1 100 cardinal dollars,” said Dorsey. “Given the facts and circumstances of this highly unsocial case, I person nary uncertainty that the assignment of an examiner would not beryllium successful the champion involvement of the creditors.”
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