According to the expert lawyer, FTX’s bankruptcy case may take much longer than expected.
From attorneys at Markowitz Ringel Trusty & Hartog Alan R. Rosenberg, spoke about FTX’s bankruptcy case. In his statement, he stated that the case in question could last for years and cited creditor demands and the amount of money being collected. more than $8 billion He showed the money.
More than once to get back the money FTX had paid in the weeks and months before it went bankrupt.clawbackRosenberg pointed out that he filed a request or lawsuit. Huge armies of lawyers of the institutions from which money is requested He stated that it was.
This repayment process is at best through out-of-court negotiation The experienced name states that even these negotiation processes can be resolved. it could take years he emphasized. In addition, when payments made through cryptocurrencies are tried to be repaid after a long time, serious price differences arise and the prices at which the payment will be made creates a separate topic of discussion:
Given that some of these transfers are probably very important, and some are to large organizations that I’m sure are very capable of defending themselves, it seems very likely that the payback period for some of these will continue for a long time.
Rosenberg stated that these enormous cryptocurrency cases will be resolved sooner or later, and ultimately, results that will set an example for the legal system will be achieved.
On the other hand, at the head of FTX US Internal Revenue Service (IRS) There is pressure. The IRS pointed out the transactions made by FTX in the past period and $24 billion tax debt He stated that it was. Although the FTX front completely denies this accusation, the legal aspect of the process will probably take longer.
Especially the recent increases in the cryptocurrency market have increased the amount FTX can pay to its creditors. $0.80 for $1 took it to the point. Creditors expect repayment in the first quarter of 2024. In its latest application to the court, FTX stated that it would pay its creditors per Bitcoin $16,500 He offered to pay. While this offer was not warmly received by creditors, the negotiation process continues.