What You Need to Know
- A court-appointed examiner in the FTX bankruptcy seeks to embark on an additional investigation into Sullivan & Cromwell's prepetition work for the fraudulent cryptocurrency exchange.
- The examiner previously reported that he found no evidence that Sullivan & Cromwell was aware of the fraud during prepetition work.
- A July 17 hearing will determine whether three additional investigations will proceed.
Sullivan & Cromwell may face further inquiry into its prepetition work for FTX, the fraudulent cryptocurrency exchange that the law firm is now representing as debtor counsel inthe U.S. Bankruptcy Court for the District of Delaware.
Examiner Robert Cleary of Patterson Belknap Webb & Tyler recommended that he be authorized to undertake three additional investigations into the collapse of FTX, according to a motion he filed in court this week.
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