FTX creditor committee hires Paul Hastings LLP for bankruptcy proceedings: Report
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After taking pitches from many law firms, the nine-member committee representing unsecured creditors of the disgraced crypto exchange FTX has decided on a legal adviser, the Wall Street Journal reported on Dec. 21. Global law firm Paul Hastings LLP was hired to look after the interests of unsecured creditors in the bankruptcy case, including millions of FTX’s customers. According to sources from the newspaper, a process to select a financial adviser is also underway. The committee of FTX creditors was appointed on Dec. 16 by the U.S. Justice Department. Its members include companies in the cryptocurrency sector, such as Pulsar
FTX Debtors have agreed to a new Customer Shortfall Settlement following months of negotiations with FTX’s Committee of Unsecured Creditors, an ad hoc non-US customer committee, and other representatives. The court must approve the proposal that FTX Debtors (FTX) will file as part of their Amended Plan in December. Earlier…
Refunds began in 2025 on the cryptocurrency exchange FTX, which suddenly went bankrupt in 2022, and in the last days of May, former FTX users reported that they had started receiving their long-awaited receivables. FTX officials announced that the second round of payments worth approximately $5 billion under the bankruptcy…