Third parties could return FTX funds directly to customers: Law firm By Cointelegraph
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© Reuters. More than one million creditors of failed crypto exchange FTX have been waiting to be made whole since before the firm’s bankruptcy filing on Nov. 11, but according to one expert, recipients of donations and contributions may have a legal means of returning the funds directly to investors and customers.
Louise Abbott, a partner at United Kingdom-based firm Keystone Law, told Cointelegraph it was “extremely unlikely” FTX would have a legal leg to stand on in its demands for the voluntary return of political campaign donations, grants, and other contributions the firm made prior to its bankruptcy. However, many individuals and organizations — likely the result of public scrutiny — have already returned or pledged to return an estimated $6.6 million to FTX, a fraction of the millions the company sent in less tumultuous times.
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© Reuters. More than one million creditors of failed crypto exchange FTX have been waiting to be made whole since before the firm’s bankruptcy filing on Nov. 11, but according to one expert, recipients of donations and contributions may have a legal means of returning the funds directly to investors and customers.
Louise Abbott, a partner at United Kingdom-based firm Keystone Law, told Cointelegraph it was “extremely unlikely” FTX would have a legal leg to stand on in its demands for the voluntary return of political campaign donations, grants, and other contributions the firm made prior to its bankruptcy. However, many individuals and organizations — likely the result of public scrutiny — have already returned or pledged to return an estimated $6.6 million to FTX, a fraction of the millions the company sent in less tumultuous times.
Continue Reading on Coin Telegraph
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