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FTX Asks Court to Remove Dubai Unit from US Bankruptcy Proceedings

FTX wants its subsidiary based in Dubai to be excluded from its ongoing bankruptcy proceedings in the US. According to a court document filed today (Thursday), the bankrupt cryptocurrency exchange argued that this step would allow for a timely distribution of money owed to creditors."Additionally, FTX Dubai is balance sheet-solvent," the filing stated. "Therefore, the debtors believe that a solvent voluntary liquidation procedure in accordance with the laws of the United Arab Emirates would allo... Read More

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Asks

Court

Remove

Dubai

Unit

From

Bankruptcy

Proceedings

Forex

Posted: Aug 3 2023, 11:44

Author Name: financemagnates

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