What You Need to Know
- Three judges have found themselves in a complicated jurisdictional fight.
- Co-counsel for the class in the multidistrict litigation cases are pitted against the FTX bankruptcy lawyers.
- At issue is $11 billion in forfeiture to the victims of Sam Bankman-Fried’s criminal actions.
Co-lead counsel at Boies Schiller Flexner and the Moskowitz Law Firm filed motions Thursday, announcing that all victims of the FTX collapse may actually be made “whole” in the multidistrict litigation cases and asking a federal district court in Miami to order FTX Trading Ltd. to stop pursuing a determination that the claims in theMDL are part of the bankruptcy estate.
David Boies, chairman at Boies Schiller Flexner, and Adam Moskowitz, managing partner at the Moskowitz Law Firm, are co-lead counsel for the class in the FTX MDL cases before U.S. District Judge Michael Moore in the Southern District of Florida. They argued that Moore—and not U.S. Chief Bankruptcy Judge John Dorsey in the District of Delaware—should be in charge of claims by FTX’s defrauded customers.
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