FTX files motion to exclude its Dubai unit from bankruptcy proceedings By Cointelegraph
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Bankrupt crypto exchange FTX has filed a motion in court to remove its Dubai unit from ongoing restructuring proceedings in the United States.
In a court filing on Aug. 2, FTX argued that its Dubai unit didn’t conduct any business before the bankruptcy filing; thus, the subsidy is unlikely to rehabilitate its operations. The court will start its first hearing on the issue on Aug. 23.
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Bankrupt crypto exchange FTX has filed a motion in court to remove its Dubai unit from ongoing restructuring proceedings in the United States.
In a court filing on Aug. 2, FTX argued that its Dubai unit didn’t conduct any business before the bankruptcy filing; thus, the subsidy is unlikely to rehabilitate its operations. The court will start its first hearing on the issue on Aug. 23.
Continue Reading on Coin Telegraph
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