FTX can sell four major units including derivatives arm LedgerX and securities clearing platform Embed, a Delaware bankruptcy judge ruled Thursday.
Investment bank Perella Weinberg is now authorized to liquidate, including the European and Japanese units of the exchange, and has attracted as many as 117 interested parties.
Judge John Dorsey of the Delaware Bankruptcy Court, which oversees the exchange's liquidation, approved the measures in an order on Thursday following a hearing held on Wednesday. Notice of sale will be published within approximately three business days, with interested parties to be received from January 18 for Embed and February 1 for FTX Europe and Japan.
Exchanges cryptocurrency of Sam Bankman-Fried filed for bankruptcy on November 11, 2022, shortly after reports of suspicious points in the company's balance sheet appeared. Alameda Research.
Claims involving former senior executives and their families will be excluded from this liquidation, due to the Justice Department's concerns about allegations of serious misconduct. Bankman-Fried has pleaded not guilty to charges including wire fraud while serving as chief executives, while confidants Caroline Ellison and Gary Wang are believed to be cooperating with regulators. check.
The exchange's assets, currently run by restructuring expert John Ray, which hopes to create more value for its creditors by quickly selling off the more liquid and separable parts of the business.