coindesk.com
Crypto trading firm Wintermute Asia PTE. has gained a seat on the coveted creditors’ committee for FTX, allowing it to steer decisions about the wind-up of the defunct crypto exchange alongside entities from the Caribbean, Hong Kong and U.S, according to a Thursday court filing.
The Department of Justice has named Venture Capital company Octopus, the Gibraltar-based Wincent Investment Fund, Coincident Capital International, GGC Information Ltd., Pulsar Global Ltd., and a number of individual investors to represent the potentially million people owed money by the collapse of the Bahamas-based firm, whose founder Sam Bankman-Fried is now in a Bahamas jail.
“We had a tremendous response” to the request to sit on the committee, U.S. Trustee Juliet Sarkessian told a Delaware Bankruptcy court Wednesday, citing difficulties in gathering a group of people from across the world.
“We are moving as expeditiously as possible” to set the committee up, Sarkessian, a Department of Justice official charged with administering the bankruptcy process, added.
The committee, responsible for representing those who are hoping to be repaid at the conclusion of bankruptcy proceedings – specifically the unsecured creditors who have no claim on FTX collateral – will also include hedge fund Coincident Capital, GGC international, and Hong Kong’s Pulsar Global, the filing said.
On Friday the Delaware court will hear a controversial proposal to redact personal information rather than publishing a full – and potentially very long – list of creditors.
On Tuesday, CoinDesk reported moves to create a separate committee to represent the distinct needs of foreign creditors of Bankman-Fried’s sprawling empire.
Read more $1.6B FTX International Customers Group Hires Law Firm to Create Official Bankruptcy Committee