Bankruptcy Court – DIGIT INFO

Terraform Labs to reopen Shuttle Bridge, destroy LUNA tokens

DIGIT — Fri, 19 Jul 2024 13:04:00 +0000

These developments indicate TFL’s proactive efforts to tackle Terra’s challenges and restore trust and stability within the Terra ecosystem.

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Crypto Lender Genesis Requests US Bankruptcy Court to Approve ‘Settlement Principle’

DIGIT — Wed, 20 Mar 2024 20:30:04 +0000

The insolvent cryptocurrency lender, Genesis, has petitioned a U.S. bankruptcy court to approve a proposed settlement principle announced on Feb. 28. According to an update, if the court approves the settlement, Genesis Earn users will receive all of their digital assets back in kind. The bankruptcy court is scheduled to consider Genesis’ request to approve […]

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Metropolitan Museum of Art to return $550K in donations from FTX

DIGIT — Mon, 05 Jun 2023 01:05:35 +0000

The agreement came on the back of “good faith, arm’s length negotiations” with FTX’s debtors, the museum said.

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Blockfi Announces Self-Liquidation Plan After Failed Attempts to Sell Company

DIGIT — Tue, 16 May 2023 10:00:10 +0000

The now-defunct crypto lender Blockfi has recently filed a court document outlining its plans to liquidate the company. The firm has come to the realization that selling the company would not be beneficial to its creditors. As a result, Blockfi has decided to take matters into its own hands and proceed with a self-liquidating transaction. […]

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Core Scientific to transfer $20M of equipment to settle bankruptcy dispute

DIGIT — Tue, 21 Mar 2023 05:45:27 +0000

Millions of dollars worth of electrical equipment will be transferred to the crypto miners’ exclusive energy negotiator to settle a payments dispute.

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US officials appeal protections for Voyager execs in Binance.US sale

DIGIT — Wed, 15 Mar 2023 06:06:54 +0000

The DOJ disagrees with the legal protections given to those involved in the Voyager-Binance.US sale saying the court “improperly” exceeded its authority.

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3AC Co-Founder Kyle Davies Fails to Respond to Liquidators’ Subpoena Despite Twitter Delivery

DIGIT — Wed, 08 Feb 2023 18:30:15 +0000

According to recent court filings, Kyle Davies, co-founder of the defunct cryptocurrency hedge fund Three Arrows Capital (3AC), has allegedly failed to respond to a subpoena from the firm’s current liquidators, despite it being sent via Twitter. Representatives from advisory company Teneo state that Davies continues to ignore his obligations to Three Arrows. 3AC Liquidators […]

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FTX Debtors Demand Return of Funds Given to US Politicians and Super PACs

DIGIT — Mon, 06 Feb 2023 15:07:29 +0000

FTX debtors are seeking to claw back millions of dollars given to U.S. political action committees (PACs) and political figures. Confidential letters have been sent to individuals and organizations, requesting the return of the funds by Feb. 28, 2023. Some bureaucrats, such as Democratic Senators Joe Manchin and Tina Smith, have already pledged the funds […]

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DOJ-Appointed US Trustee Objects to Subpoena Request in FTX Bankruptcy Case

DIGIT — Fri, 03 Feb 2023 21:20:02 +0000

Following a request from FTX lawyers to subpoena FTX co-founder Sam Bankman-Fried (SBF) and members of his family, the U.S. Trustee appointed by the Department of Justice has filed an opposition to the request. The U.S. Trustee explained that the motion would duplicate the efforts of the federally appointed independent examiner. U.S. Trustee Argues for […]

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FTX Debtors Seek Dismissal of Turkish Entities in Chapter 11 Bankruptcy Proceedings

DIGIT — Tue, 31 Jan 2023 22:19:55 +0000

FTX debtors have filed a motion with the court requesting to dismiss its Turkish subsidiaries from the Chapter 11 bankruptcy proceedings. The defunct crypto exchange’s lawyers believe dismissing the entities “is in the best interests” of creditors, and FTX debtors do not believe Turkish authorities “or any liquidator” in the country will cooperate with officials […]

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