FTX Case: Judge Approves Controversial Law Firm

There has been a development in the FTX bankruptcy case in the state of Delware, USA. Judge John Dorsey of the controversial law firm Sullivan & Cromwell FTX consented to represent its debtors.

The judge dismissed recent objections and ruled that there was no evidence to prove a mutual interest.

With the clarification of Sullivan & Cromwell’s representation on the FTX exchange, the financial aspect of the deal came to light. According to court documents, FTX paid the Sullivan & Cromwell law firm $8.5 million for work on 20 different subjects.

Following the allegations, the law firm announced that it would not take part in the investigation regarding them or the former partner, which was the subject of discussion, and that it would transfer this task to another company.

Why was the Law Firm Appealed?

After it became clear that Sullivan & Cromwell would play a role in the FTX case, a number of plaintiffs appealed in court.

Plaintiffs argued that a conflict of interest could exist due to the fact that Ryne Miller, who served as General Counsel at the bankrupt crypto exchange, and Tim Wilson, an FTX attorney, were previously partners of the law firm in question.