FTX must pay all costs for the Bahamas regulator to hold its assets, the Bahama Supreme Court ruled. Also, a Bahamas court agreed to let the U.S. handle part of the case, easing tensions. FTX Bahamas US bankruptcy
FTX is responsible for all costs associated with the digital wallet that holds FTX Digital Markets' assets and is being kept under the supervision of The Securities Commission of The Bahamas's , the country's Supreme Court ruled on Monday.Bahamas Securities Regulator Says It Ordered FTX Crypto Transferred to Government Wallets
"The Order secured today confirms the Commission is entitled to be indemnified under the law and FDM shall ultimately bear the costs the Commission incurs in safeguarding those assets for the benefit of FDM’s customers and creditors, in a manner similar to other normal costs of administering FDM’s assets for the benefit of its customers and creditors," the statement said."No payment, however, may be made to the Commission without prior approval of the Supreme Court.
Liquidators appointed in the Bahamas for one FTX affiliate agreed to move a case they filed in New York to Delaware, where more than 100 units are under the oversight of a federal judge, FTX lawyers said in papers filed in U.S. Bankruptcy Court in Wilmington, Delaware.
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