FTX's massive bankruptcy case is unfolding in the United States and the Bahamas.
Legal teams handling FTX’s bankruptcy proceedings in the U.S. and the Bahamas have agreed to cooperate to “share information” and maximize stakeholder recoveries.The legal teams helming troubled crypto exchange FTX’s bankruptcy cases in the United States and the Bahamas reached a mutual cooperation agreement, appearing to end, for now, the disagreements between the two parties that had surfaced shortly after FTX collapsed.
The FTX debtors and the firm’s joint provisional liquidators have agreed on terms for involving one another in legal proceedings in each jurisdiction, they said in a“Under the cooperation agreement, the parties commence work together to share information, secure and return property to their estates, coordinate litigation against third parties and explore strategic alternatives for maximizing stakeholder recoveries,” FTX said in a statement.
Although the legal teams have made progress, FTX CEO John Ray III hinted that there are still some areas of disagreement. “There are some issues where we do not yet have a meeting of the minds, but we resolved many of the outstanding matters and have a path forward to resolve the rest,” he said.
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