Turkey Demand from Bankrupt Bitcoin Exchange FTX!

in last November cryptocurrency stock market FTX’The bankruptcy of the company created a shock effect on both the market and investors.

After the bankruptcy of FTX, there was a great collapse in the market, while many investors suffered great losses.

A new request came from FTX, whose bankruptcy process continues in the bankruptcy court.

According to Coindesk’s report, FTX requested the court to exclude the Turkey unit from the scope of bankruptcy proceedings, citing that Turkish authorities are unlikely to follow up or enforce requests from US courts.

Application to the court FTX Turkey is 80% owned by FTX Trading LTD and SNG Investment, a 100% subsidiary of FTX’s venture capital firm Alameda Research. stated with.

In the news, FTX’s application to the Delaware bankruptcy court claimed that the decisions taken by the US courts had no legal effect in Turkey.
The following statements were included in the application:

“Decisions made by this court have no legal or practical effect in Turkey.

Moreover, the debtors and the Turkish government have no reason to believe that they will abide by the judgments of this Court.

As a result, we believe that debtors and the Turkish government will not cooperate on court orders and that debtors do not have sufficient control in Turkey to perform their duties under bankruptcy law.”

The application also stated that the parent company of FTX may continue the litigation process according to Turkish law and some Turkish creditors have filed lawsuits in local courts.

The bankruptcy court is expected to respond to FTX’s Turkey application on March 8.

As it will be remembered, FTX filed for bankruptcy in the US courts on November 11. Shortly after the bankruptcy, the authorities FTX He launched an investigation into Turkey’s activities.

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