FTX saga: Emails between advisor and Voyager restructuring lawyer floor 

Current studies revealed emails between the present FTX advisors and Voyager’s restructuring lawyer, elevating questions on if FTX advisors knew something in regards to the trade. 

Leaked emails between FTX advisor and Voyager lawyer 

Voyager Collectors Committee highlighted emails from a accomplice at Sullivan & Cromwell (S&C) at present representing FTX. These emails have been supplied as proof as a part of the ongoing dispute over FTX’s proof of declare in Voyager. 

The S&C accomplice, Andrew G. Dietderich, was in an e mail dialog with Darren Azman, a enterprise restructuring lawyer chosen by Voyager final 12 months. The emails supplied as proof occurred between Nov. 7 and eight, days earlier than FTX’s liquidity issues have been made public. The trade went on to file for chapter safety just a few weeks later.

Based mostly on tweets, Andrew G. seemingly fooled Darren Azman into believing that the knowledge circulating about FTX was a lie and possibly concocted by the Binance trade to boost worry, uncertainty, and doubt (FUD). 

Within the report, S&C, by Andrew, represented that the now defunct trade was rock strong solely a few days earlier than it failed. John Ray, the present CEO of FTX, and S & C’s shopper, initially testified that FTX had “an utter lack of record-keeping”, including that there have been “no inside controls by any means.” 

On Nov. 7, Darren Azman emailed Andrew, highlighting complaints about liquidity points at FTX and Alameda Analysis. Darren additionally invited the regulation agency to affix them and reply questions regarding FTX. Nevertheless, Andrew. responded, saying, “FTX doesn’t use prospects’ funds or take credit score dangers in any respect.” Furthermore, the accomplice famous that the defunct trade couldn’t have liquidity points because it doesn’t lend.

The subsequent day, Darren Azman despatched one other e mail with extra considerations. He requested Andrew to elucidate whether or not the rumors of FTX halting withdrawals have been true. Nevertheless, Andrew famous that it was the primary time he had heard of the rumors. However, he referred to the rumors as ‘Binance Nonsense.”

Legal professionals knew little about FTX

Based mostly on the current info, the attorneys appear to have identified little or no about FTX’s actions. As an illustration, the attorneys had but to be taught that FTX facilitated lending. Nevertheless, others argue that the advisors might need identified in regards to the fraud and have been defending themselves. Both manner, they appeared to have misrepresented the reality to an social gathering.

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