Request from FTX to Remove Turkey from Bankruptcy Case: Decision Not Complied!

The bankrupt cryptocurrency exchange FTX demanded that the Turkish subsidiary be excluded from the scope of the lawsuit, expressing that the Turkish authorities are unlikely to comply with the litigation guidelines.

In the hearing minutes recently released by the Delaware Court, FTX attorneys’ participation in the Turkish subsidiary of the company. bankruptcy case from the scope subtract the place they wanted. The reason for the FTX request is that the Turkish authorities Delaware Court’s instructions chances of sleeping low stated that.

The company has given in court regarding the issue. in defense made the following statements:

The judgments rendered in this court have no legal or practical effect in Turkey. The debtors have no reason to believe that the Turkish government will comply with the court’s conclusion. In addition, FTX does not have sufficient control over its Turkish subsidiary to meet the requirements of the bankruptcy law.

FTX and a subsidiary of Alameda Research of SNG Investments of FTX TR 80% Turkish authorities, a few days after the bankruptcy of the company, although it owns the shares of FTX TR confiscation of all assets gave the order, and in the process passed in FTX TR open withdrawal requests and kept its assets to its customers had returned.

In the minutes, the parent company Turkish legal system in the scope of to sue may also continue with some Turkish creditors in local courts through legal means included the information applied

source site-9