FTX bankruptcy hearing scheduled for early morning on the 24th, six major issues awaiting court review

FTX has reorganized its team and submitted the bankruptcy hearing agenda to Judge John T. Dorsey of the United States Bankruptcy Court in Delaware. The hearing will take place on August 24 at 01:00 a.m. Taiwan time, and participants can join the hearing via Zoom link.

FTX Bankruptcy Hearing: Six Pending Matters

According to CryptoSlate and legal documents, the hearing agenda lists a total of 15 matters, with 9 issues resolved through a court order issued on August 18th.

Currently, there are six matters that require updates, establishment, and resolution procedures, including:

1. The bankruptcy court needs further understanding of the latest developments in the FTX case.

2. The FTX restructuring team seeks court approval for bankruptcy-related litigation procedures, but the U.S. trustee has objected.

3. The progress of litigation involving executives at FTX Digital Markets by the restructuring team.

4. The progress of litigation involving former investor Rocket Internet Capital by the restructuring team.

5. The progress of litigation involving Michael Giles, an executive of related investment companies, by the restructuring team.

6. The restructuring team creditor committee seeks relevant documents from Silicon Valley accounting firms and Silvergate, Evolve banks.

Note: A Trustee is a part of the bankruptcy supervision plan under the Department of Justice, aimed at promoting the integrity and efficiency of the bankruptcy system, and safeguarding the interests of debtors, creditors, and the public.

Note: Michael Giles was the former CEO of Embed, a stock clearing platform acquired by FTX, with John Ray raising suspicions about the acquisition, with Michael Giles alone receiving $157 million.

Participating in FTX Bankruptcy Hearing via Zoom

Due to COVID-19 protocols, the hearing allows for lawyers and related personnel to appear in person, while the general public can register before 11:00 p.m. Taiwan time on August 23rd to participate in the hearing via Zoom meeting link here.

Registration Link

Full names must be used when logging into Zoom, or participants may be removed by the host.

According to the latest appearance by SBF, he continues to deny all charges and emphasizes that the conditions at the Brooklyn Metropolitan Detention Center, the food, and the limited visitation time have severely impacted his ability to defend himself.

Recap: SBF was arraigned yesterday, maintains plea of not guilty, with his lawyer stating that he is surviving on bread and water in detention.