Attorneys for the U.S. bankruptcy trustee and several major media outlets are challenging an effort by cryptocurrency exchange FTX to withhold names of the company’s customers and creditors from the public.
FILE - The FTX Arena logo is seen where the Miami Heat NBA basketball team plays on Nov. 12, 2022, in Miami. Attorneys for the U.S. bankruptcy trustee in Delaware and several major media outlets are challenging an effort by cryptocurrency exchange FTX to withhold names of the companys customers and creditors from the public. – Attorneys for the U.S.
In a court filing earlier this week, an attorney for Delaware’s acting U.S. trustee noted that “disclosure is a basic premise of bankruptcy law.” Last month, Dorsey temporarily granted a request by FTX to redact the names and addresses of clients and creditors from court filings, even though such information is typically public. The judge did direct FTX to file an unredacted creditor matrix under seal with the court, but the company has yet to do so.
“Debtors have been accused of lack of transparency in their business. That mindset appears to have carried over to this bankruptcy,” wrote attorney David Finger, who is representing Bloomberg L.P., Dow Jones & Co., The New York Times and the Financial Times. The media companies argue that FTX is trying to hide information “that historically has been quintessentially public in nature.”
“The court should not treat foreign citizens differently than the United States citizens implicated in this case,” Finger wrote in a court filing last week.
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