Lawyers for Andrew Vara, the United States Trustee representing the interests of the Department of Justice in crypto exchange FTX’s bankruptcy proceedings, has filed an appeal against a federal judge’...
Tag: examiner
FTX Bankruptcy Examiner Denial Appealed by U.S. Government
The U.S. Trustee, a branch of the Department of Justice (DOJ), had previously argued that bankruptcy law requires an independent probe for any case of such magnitude, despite warnings that it could co...
FTX Investigations are Plenty, No Need for Independent Examiner, Judge Rules
An FTX bankruptcy judge has denied a motion to appoint an independent examiner. Judge John Dorsey said it would be unnecessary in comparison to other ongoing inquiries by law enforcement and FTX’s new...
FTX Bankruptcy Judge Agrees Independent Examiner Would Mean More Risk
Appointing an independent examiner in the FTX bankruptcy proceedings “would create an increased risk of further loss through inadvertent disclosures or hacking,” Judge John Dorsery said in a hearing o...
FTX bankruptcy judge denies US trustee’s motion to appoint independent examiner
Judge John Dorsey of the United States Bankruptcy Court for the District of Delaware has denied a motion appointing an independent examiner for FTX. In a Feb. 15 hearing, Judge Dorsey said he had some...
FTX Bankruptcy Judge Denies US Trustee’s Request for Independent Examiner – Bitcoin News
The judge presiding over the FTX bankruptcy case has denied the U.S. Trustee’s request to appoint an independent examiner for the ongoing proceedings. The decision comes after judge John Dorsey postpo...
Judge denies request for FTX bankruptcy examiner
A judge denied a request to appoint an independent examiner in FTX’s bankruptcy case, noting that one would be too expensive when multiple investigations into the troubled crypto exchange are underway...
Voyager subpoenas FTX and Alameda execs as judge orders fee examiner
Lawyers representing bankrupt crypto broker Voyager Digital have served former FTX CEO Sam Bankman-Fried and other FTX and Alameda Research executives with subpoenas requesting information. The subpoe...
Judge Delays Decision on Appointing Independent Examiner Amid Cost Concerns – Bitcoin News
Judge John Dorsey has delayed his decision on whether to appoint an independent examiner in the FTX case. At the latest hearing, Dorsey acknowledged that the cost to debtors could reach tens of millio...
Independent FTX Examiner Could Cost Crypto Exchange $100M, Court Told
“We do not have enough money to pay back all of our creditors and the U.S. Trustee … says that we should spend tens or even hundreds of millions of dollars” on a report, said James Bromley of FTX’s la...
FTX Bankruptcy Lawyers Say Independent Examiner Would Put Assets at Risk
The judge overseeing the FTX bankruptcy proceeding still hasn’t decided whether he will appoint an independent examiner after a 4-hour hearing that included testimony from FTX CEO John Ray III. ...
Judge delays FTX examiner ruling in hopes of ‘consensual resolution’
A federal bankruptcy court judge in Delaware did not rule on whether to appoint an examiner in FTX’s enormous bankruptcy case, and instead will allow lawyers to discuss a “consensual resolution” on th...
Celsius was insolvent since inception, court-appointed examiner reveals
According to the report by a court-appointed examiner for its bankruptcy proceedings, the collapsed cryptocurrency lending platform Celsius Network had cheated customers since its foundation as a publ...
State officials support push for independent examiner in FTX bankruptcy
Officials from more than a dozen states want a federal bankruptcy judge to appoint a third-party examiner of FTX’s finances, citing the need for more transparency about the collapsed crypto exch...
Crypto lender Celsius supported its token while insiders benefited, according to a US bankruptcy examiner
Join Our Telegram channel to stay up to date on breaking news coverage A U.S. court-ordered examiner report made public on Tuesday revealed that the bankrupt cryptocurrency lender Celsius Network infl...
Celsius Sold Bitcoin and ETH to Buy Own Token Says Examiner – Trustnodes
Celsius, the now defunct crypto lender and borrower, sold bitcoin and eth deposited by customers to buy Cel, its own token, the bankruptcy examiner Shoba Pillay said in a court document. “Celsius did ...
Celsius Used New Customer Funds to Pay for Withdrawals: Independent Examiner
“In every key respect – from how Celsius described its contract with its customers to the risks it took with their crypto assets – how Celsius ran its business differed significantly from what Celsius...
Celsius creditors contemplate next steps following examiner report
Despite a damning report from a court-appointed examiner, lawyers representing former Celsius customers told clients they are still in talks with the company around a “recovery corporation”...
Celsius’ Independent Examiner Reveals Astonishing Facts About Internal Discrepancies
Celsius abandoned its promise of transparency from its start, according to former prosecutor Shoba Pillay who was appointed as an independent examiner by United States Bankruptcy Judge Martin Glenn. I...
US Bankruptcy Examiner Hints Celsius Running Ponzi Schemes
US Bankruptcy Judge Martin Glenn, overseeing Celsius’s Chapter 11 case appointer ex-prosecutor Shoba Pillay as the examiner to probe the crypto lending platform. The examiner was expected to release a...
Court-appointed examiner confirms Celsius operated as a Ponzi
An independent U.S. court-appointed examiner reported that Celsius had used customers’ deposits to prop up the CEL token and enrich two of the company’s founders. The report by former prosecutor Shoba...
Celsius Was Using Customer Deposits To Fund Withdrawals, According to Bankruptcy Examiner
A closer look at the collapse of crypto lender Celsius shows that the firm was using customer deposits to pay for withdrawals, according to an independent examiner. In a new court filing with the Unit...
Independent examiner finds Celsius ticks every Ponzi box
An independent investigation has determined that now-bankrupt crypto lender Celsius Network was a Ponzi scheme by using client funds to buy up its native token and inflate price. Since September, form...
FTX Lawyers Says the Appointment of an Independent Examiner Could Cost $100 Million
The ongoing investigation over the collapsed crypto exchange, FTX, seems expensive. As the firm’s lawyers, joint provisional liquidators, the Bahamas and a committee of creditors opposed the appointme...
FTX lawyers claim independent examiner could bag $100m in vain
Lawyers representing FTX have claimed that an outsourced examiner would cost the company more than $100 million without benefiting equity holders or creditors. The Jan. 25 objection argument comes aft...
FTX Lawyers Object to the Formation of an Independent Examiner Citing Unwarranted Cost
The FTX bankruptcy case has attracted the attention of U.S. lawmakers, several states, and regulatory agencies. In the latest update, FTX debtors, the creditors committee, and the Bahamas Team (JPL) f...
FTX debtors, Bahamian liquidators object to U.S. Trustee’s examiner request
Allowing an examiner to investigate the FTX bankruptcy would “come at an enormous cost” and “provide no benefit” to creditors, lawyers for the troubled crypto exchange said in a court filing. T...
Four US lawmakers ask court to appoint independent examiner for FTX
Four US Senators urged the court to appoint an independent examiner to look into the activities of bankrupt crypto exchange FTX in a Jan. 9 bipartisan letter. The lawmakers argued that the firm presen...
US lawmakers call on court to approve ‘independent examiner’ in FTX bankruptcy case
A bipartisan group of four United States senators has criticized one of the law firms involved in the bankruptcy case of crypto exchange FTX for conflicts of interest. In a Jan. 9 letter to Judge John...
US Trustee Plans to Appoint an Examiner to FTX Case, While SBF Describes Strange Margin Trading Practices – Bitcoin News
On Dec. 1, 2022, an attorney for the U.S. Trustee submitted a written letter to Delaware bankruptcy court officials that seeks to establish an independent examiner to investigate the FTX Chapter 11 ba...
DOJ Watchdog Seeks Independent Examiner of FTX Collapse
In the latest chapter of the fall of FTX, the U.S. Office of Trustee within the Department of Justice filed a motion today in the U.S. Bankruptcy Court in Delaware requesting the appointment of an ind...
Examiner: Celsius’ accounting and operational controls were ‘insufficient’
In the bankruptcy case involving crypto lender Celsius, the independent examiner claims that the company did not establish “adequate” accounting and operational controls in its handling of...