{"id":511762,"date":"2022-11-18T06:11:22","date_gmt":"2022-11-18T03:11:22","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/ftx-names-kroll-as-claims-agent-to-update-users-on-bankruptcy-developments\/"},"modified":"2022-11-18T06:11:22","modified_gmt":"2022-11-18T03:11:22","slug":"ftx-names-kroll-as-claims-agent-to-update-users-on-bankruptcy-developments","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/ftx-names-kroll-as-claims-agent-to-update-users-on-bankruptcy-developments\/","title":{"rendered":"# FTX names Kroll as claims agent, to update users on bankruptcy developments"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a284bf96be66\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a284bf96be66\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/ftx-names-kroll-as-claims-agent-to-update-users-on-bankruptcy-developments\/#%E2%80%9D_FTX_names_Kroll_as_claims_agent_to_update_users_on_bankruptcy_developments_%E2%80%9C\" >&#8221; FTX names Kroll as claims agent, to update users on bankruptcy developments &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_FTX_names_Kroll_as_claims_agent_to_update_users_on_bankruptcy_developments_%E2%80%9C\"><\/span>&#8221; FTX names Kroll as claims agent, to update users on bankruptcy developments &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvZWY2M2YzNWYtMWQ3NS00MDU2LTg0YmItMjkwZDdmN2Y2Yjk2LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-887bb764>Bankrupt crypto exchange FTX has <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ointed restructuring administration firm Kroll as its agent to track all claims against FTX and ensure interested parties are notified of developments throughout its Chapter 11 bankruptcy case.<\/p>\n<p>Known as the \u201cclaims and noticing agent,\u201d Kroll was appointed to the role on Nov. 12 with the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> made public on Nov. 17, and aims to compile a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cases.ra.kroll.com\/FTX\/Home-ClaimInfo\">database<\/a> of all claims against FTX Trading and 101 affiliated companies.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Press Release: <\/p>\n<p>FTX Group has established Kroll as its claims agent, and all official documents filed with the U.S. Bankruptcy Court can be found online at <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/7Bsn9Ggckf\">https:\/\/t.co\/7Bsn9Ggckf<\/a>. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/OFuCmlJXgJ\">pic.twitter.com\/OFuCmlJXgJ<\/a><\/p>\n<p>\u2014 FTX (@FTX_Official) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/FTX_Official\/status\/1593317347703590915?ref_src=twsrc%5Etfw\">November 17, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>At the time of writing, this database lists only eight claims, including one from Singaporean-based blockchain development firm Ethereal Tech for $11.7 million, but will soon be fleshed out as more claims against the group are lodged.<\/p>\n<p>For example, one other case that Kroll has worked on, that of rental car company Hertz, has 62,061 claims against it from its Chapter 11 bankruptcy case.<\/p>\n<p>The eight claims currently included already amount to $40.9 million, though FTX Trading alone is understood to owe customers and investors as much as $8 billion.<\/p>\n<p>Within the filing, the firm has also compiled a list of interested parties it will keep updated on developments, which it acknowledges is incomplete and does not currently include customers.<\/p>\n<p>This list is currently composed of approximately 750 parties who have some kind of interest in the case, with some of the included groups consisting of debtors, banks, landlords, insurance providers, directors, landlords, and regulators.<\/p>\n<p>Some noteworthy names included in the list are National Australia Bank (NAB), Apple, <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Facebook<\/a>, JPMorgan, Chainalysis, Wells Fargo, Bank of America, Circle, Stephen Curry, Reddit, and Yuga Labs. <\/p>\n<p>Meanwhile, the number of creditors involved with FTX is thought to be in excess of one million, and corporate securities lawyer Margaret Rosenfeld told Cointelegraph it will take years before any begin to receive any funds back, adding: <\/p>\n<blockquote><p>\u201cYou can\u2019t make creditor distributions until these claims are analyzed. It\u2019s also way too early to speculate on what kind of distribution creditors will get back. Though in mega cases, such as this, full recovery would be unusual.\u201d<\/p><\/blockquote>\n<p>Kroll Restructuring Administration is an indirect subsidiary of Kroll LLC, which is one of the world\u2019s largest corporate intelligence companies. Notably, the firm had been employed by Harvey Weinstein on multiple occasions, including when allegations of sexual harassment were brought against him in 2016. <\/p>\n<p><strong>Related: <\/strong><strong><em>SBF received $1B in personal loans from Alameda: FTX bankruptcy filing<\/em><\/strong><\/p>\n<p>The parent company offers a wide range of services in areas such as environmental, social, and corporate governance (ESG), valuation, compliance, cyber risk, investigations, and corporate finance.<\/p>\n<p>On Nov. 15, regulators in the Bahamas argued that FTX\u2019s new CEO lacks the authority to initiate Chapter 11 proceedings in the United States, with the provisional liquidator overseeing the bankruptcy proceedings of FTX Digital Markets in The Bahamas rejecting the \u201cvalidity of any purported attempt to place FTX Affiliates in bankruptcy.\u201d<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/ftx-names-kroll-as-claims-agent-to-update-users-on-bankruptcy-developments\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; FTX names Kroll as claims agent, to update users on bankruptcy developments &#8220; Bankrupt crypto exchange FTX has appointed restructuring administration firm Kroll as its agent to track all claims against FTX and ensure interested parties are notified of developments throughout its Chapter 11 bankruptcy case. Known as the \u201cclaims and noticing agent,\u201d Kroll&#8230;<\/p>\n","protected":false},"author":1,"featured_media":511763,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvZWY2M2YzNWYtMWQ3NS00MDU2LTg0YmItMjkwZDdmN2Y2Yjk2LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[129187,135234,96725,89897,5029,4978,117,4974,70934],"class_list":["post-511762","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-cefi","tag-ftx","tag-press-release","tag-sam-bankman-fried","tag-apple","tag-bankruptcy","tag-business","tag-facebook","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/511762","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=511762"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/511762\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/511763"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=511762"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=511762"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=511762"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}