FTX defends choice of law firm to guide it through bankruptcy

Published by
Reuters

By Dietrich Knauth and Andrew Goudsward (Reuters) – Collapsed crypto exchange FTX will try to convince a judge at a hearing on Friday to sign off on its hiring of lawyers and financial advisers, amid allegations that its chosen law firm’s prior work for FTX creates a conflict of interest. The U.S. Department of Justice’s bankruptcy watchdog has asked U.S. Bankruptcy Judge John Dorsey in Wilmington, Delaware, not to approve FTX’s hiring of Sullivan & Cromwell, arguing that the elite New York law firm has not disclosed sufficient information about its past ties to FTX, including the fact that FT…

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