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Judge John Dorsey of the United States Bankruptcy Court for the District of Delaware has denied a motion appointing an independent examiner for FTX.In a Feb. 15 hearing, Judge Dorsey said he had some discretion under the law to choose whether to appoint an examiner in the FTX bankruptcy case
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On Dec. 1, 2022, an attorney for the U.S. Trustee submitted a written letter to Delaware bankruptcy court officials that seeks to establish an independent examiner to investigate the FTX Chapter 11 bankruptcy proceedings. The U.S. Trustee explained in the letter that FTX’s collapse was comparable to complex bankruptcy cases
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“Sealing information such as that sought by the Debtors [Celsius] from public disclosure risks transforming the open and transparent bankruptcy process into something very different, which the Court is loath to do without a strong showing of real and not speculative risks,” Judge Glenn wrote in a September court filing. Original
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The regulator went so far as to imply that Celsius operated like a Ponzi scheme, saying the company’s admission that it did not generate enough revenue to support its yield product “shows a high level of financial mismanagement and also suggests that, at least at some points in time, yields
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