Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
FTX attorneys are pushing back against a $ 1.5 billion from the extinct Hedge Fund Three Arrows Capital (3AC), calling it unjustified and rooted in their own business trading.
Key with you:
- The FTX is trying to fully reject the claim of 3AC 1.5 B and call it legally and in fact unfounded.
- The exchange claims that 3AC violated the margin conditions and ignored the warning of the necessary liquidation of $ 82 million.
- The FTX says 3AC is shifting to gain losses from its own failed trading at the expense of other creditors.
In a A recent submission of a courtFTX lawyers claimed that 3AC’s request to restore funds from bankruptcy assets should be “forbidden in its entirety”.
We find the decision of November 2024 by decision on the bankruptcy of the Delaware, which allows 3AC increase your claim from $ 120 million to $ 1.5 billionciting new evidence regarding the liquidation of assets.
3AC FTX claims threw 1.5 B into assets of weeks before its collapse
3AC claims that the FTX disposed of about $ 1.5 billion in its assets just before the hedge fund itself collapsed.
However, the FTX lawyers rejected the claims as a “disproportionate and undulating initial assumption”, “he quoted” inaccurate data “and” blindness to real events “.
The submission shows a violation of margin requirements of June 2022 by 3AC after falling from Terry collapse.
According to the objection, when account 3AC dropped below the required balance of $ 240 million, the company did not match more than six hours. Instead of fulfilling a shortage, he reportedly downloaded $ 18 million in ETH.
The FTX then moved to liquidate the account and got back $ 82 million. Attorneys claim that this step not only complied with loans and margins, but also protected the assets from further losses.
Without disposal, he claims that the 3AC account would be $ 18 million under water while FTX asked for bankruptcy.
“Forced liquidation was not allowed, but necessary,” wrote Steven Coverick of Alvarez and Marsala, who made a forensic review of transactions.
Its findings were submitted next to the objection. He also considered the royal advisor to the British Virgin Islands Stephen Atherton and rejected the legal arguments 3AC by law BVI as defective.
The FTX team claims that 3AC is trying to get back losses from its own aggressive trading by focusing on the creditors’ fund.
“FTX creditors should not and cannot serve as a backstop for the failed business strategy 3AC,” the submission says.
3AC must react by July 11, with non -evident hearing scheduled for 12th August.
Date of issue of Sam Bankman-Fried is set at 2044
Founder FTX Sam Banman Mailed is now It is assumed to be released from federal prison 14 December 2044After being executed for less than 21 years of his 25 -year sentence for fraud, bound to the FTX collapse.
He was also a fine of over $ 11 billion. Federal records confirm that Bankman was fried was moved from New York to the Oklahoma transfer device after almost two years behind bars.
This step comes after Bankman was allegedly included in a lone prison at the beginning of this month for giving Tucker Carlson an unauthorized interview.
His imprisonment began in August 2023 after Judge Lewis Kaplan canceled his bail for accusations of manipulating a witness involving the leakage of the diary from the former CEO of Alameda Caroline Ellison, who was a key witness in the case.
Contribution Lawyers FTX Slam 3ac 3ac 3AC 1.5b-let’s say that the collapse was completely caused by a separate He appeared for the first time Cryptonews.
