FTX seeks time to respond as creditors fight freeze on $470M foreign claims
The FTX estate calls 49 countries “restricted foreign jurisdictions” including China, which accounts for 82% of repayment funds the bankrupt cryptocurrency exchange would hold back.
The estate of bankrupt cryptocurrency exchange FTX is seeking a delay in a Delaware court as it works to respond to over 90 objections challenging its proposed halt to repayments in certain “foreign jurisdictions,” according to a court document reviewed by Cointelegraph.
The “Motion for Leave” would give the FTX estate more time to present its case for halting repayments to creditors in so-called restricted jurisdictions. The document was filed on Sunday, with a hearing scheduled for Tuesday to address the original motion that triggered the legal dispute.
“Given the high volume of Objections received up until and following the Objection Deadline, the FTX Recovery Trust required additional time to draft, finalize, obtain approval of and file the Reply,” the FTX estate wrote.
