Top
image credit: Adobe Stock

FTX debtors file lawsuit against exchange’s Bahamian arm on ownership of property

March 20, 2023

Category:

The legal teams representing Alameda Research, FTX US and FTX Trading have filed a complaint against the Bahamas-based FTX Digital Markets, claiming the company was a “fraudulent enterprise” used as a shell entity to obfuscate the question of the firm’s ownership.

In a March 19 filing with the United States Bankruptcy Court for the District of Delaware, FTX debtors say FTX Digital Markets (FTX DM) and the joint provisional liquidators (JPLs) had claimed the Bahamian arm was the “constructive owner” of FTX.com’s fiat and crypto assets as well as other intellectual property.

Read More on Cointelegraph