FTX hearing this morning in bankruptcy court.
FTX hearing this morning in bankruptcy court.
Judge Dorsey begins by condemning the letter sent by four US Senators about Sullivan & Cromwell's role in the FTX bankruptcy as an "inappropriate ex parte communication".
More on the letter: https://www.ft.com/content/f760ae83-9802-4f12-a90b-c37773b1616c
FTX attorney says that the line of credit extended to Alameda Research via the FTX backdoor was effectively $65 billion.
One item on the agenda today is the request by FTX to redact all creditor names and information. FTX wants to enter a declaration by attorney Kevin M. Cofsky, media companies' lawyers and US Trustee object to him as an expert.
Media companies in this case are Bloomberg, Dow Jones & Company, New York Times, and The Financial Times, who are objecting to the redaction of creditor names.
Kevin M. Cofsky is going to testify, and they'll handle objections to his opinion and/or expertise as they go. He's the debtors' proposed investment banker, and wants to speak to the value of the creditor list as an asset to FTX that could be devalued by disclosure.
The customer list includes names and personal information of ~9.5 million FTX customers. Media companies have objected specifically to redaction of the names, but do not object to sealing addresses and contact information.