Published 1 year ago

FTX's Bahamas unit seeks Chapter 15 bankruptcy protection -filing

Summary by Ground News

Firm has filed for bankruptcy under Chapter 15 of the U.S. Bankruptcy Act. The move is expected to save the firm from having to pay out millions of dollars to creditors. The company has been in talks with the US government over the matter for some time. The firm has been accused of overcharging customers.

0 Articles

All

Left

Center

Right

Reuters

FTX's Bahamas unit seeks Chapter 15 bankruptcy protection -filing

FTX's Bahamas unit, FTX Digital Markets, is seeking protection from creditors in the United States under Chapter 15 of the U.S. Bankruptcy Code, a court filing showed on Tuesday. Such a move allows a foreign debtor to shield assets in the country. Non U.S.-companies use the measure to block creditors who want to file lawsuits or tie up assets in the United States. Parent FTX filed

1 year ago·United Kingdom

Read Full Article

CNN

FTX's Bahamas unit files for bankruptcy in New York

FTX Digital Markets, the Bahamas-based unit of the recently collapsed cryptocurrency trading platform, has filed for bankruptcy protection in the US.

1 year ago·Atlanta, United States

Read Full Article

KIFI

FTX's Bahamas unit files for bankruptcy in New York - Local News 8

By Chris Isidore, CNN BusinessFTX Digital Markets, the Bahamas-based unit of the recently collapsed cryptocurrency trading platform, has filed for bankruptcy protection in the US.The company filed Tuesday in New York court under Chapter 15, which is a way for foreign companies to use US bankruptcy law to restructure debt — commonly done because US law offers greater protections than those in other countries.The move comes after the crypto exchan…

1 year ago·Idaho Falls, United States

Read Full Article

Channel News Asia

FTX's Bahamas unit seeks Chapter 15 bankruptcy protection -filing

FTX's Bahamas unit, FTX Digital Markets, is seeking protection from creditors in the United States under Chapter 15 of the U.S. Bankruptcy Code, a court filing showed on Tuesday.Such a move allows a foreign debtor to shield assets in the country. Non U.S.-companies use the measure to block creditors who w

1 year ago·Singapore

Read Full Article