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Loeb Restructuring & Bankruptcy partner Daniel Besikof appeared as a special guest on season four episode 118 of “The Scoop,” where he discussed the legal underpinnings of cryptocurrency exchange FTX’s Chapter 11 bankruptcy filing and its restructuring process.
When asked about the potential extent of individual refunds and possible group prioritization, Dan commented, “In terms of how much and when people will be paid back, it’s just too soon to say.”
When asked about the potential extent of individual refunds and possible group prioritization, Dan commented, “In terms of how much and when people will be paid back, it’s just too soon to say.”
According to Dan, FTX’s fiduciary will likely attempt to bring money back into the estate through lawsuits. “One of the things that they're going to look at is where did money go out, where value didn't come back, and to the extent money went out and value didn't come back, that's a natural target for a fraudulent conveyance lawsuit or a fraudulent transfer lawsuit,” Dan said.
To listen to the full podcast episode, please visit The Block’s website.
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Deputy Chair, Restructuring & Bankruptcy