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FTX liquidators’ legal team urges cooperation with Bahamian authorities amid favoritism allegations

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FTX liquidators’ legal team urges cooperation with Bahamian authorities amid favoritism allegations

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FTX liquidators’ legal team urges cooperation with Bahamian authorities amid favoritism allegations

The legal team representing the liquidators of FTX Group LTD are urging cooperation with Bahamian authorities amid allegations of favoritism. The liquidators are hoping they can bring a swift resolution to the allegations and begin the process of winding up the offshore investments.

Allegations of Favoritism

The Securities Commission of The Bahamas is investigating allegations that the liquidators and trustees of FTX Group have favoured certain investors over others. Reuters reports that certain investors have received payouts in full, while others have received nothing.

Liquidators Urge Cooperation

The liquidators of FTX Group are urging investors to cooperate with Bahamian authorities as the investigation continues. They believe this is the best way to ensure a fair distribution of assets to all affected investors.

In a statement, the FTX Group’s legal team said:

“The liquidators remain committed to working with investors, their legal advisers and the Bahamian Securities Commission on an orderly resolution of their investments. We urge all investors to cooperate with the authorities and each other in an effort to achieve an equitable and fair outcome.”

Aim For a Fair Distribution

The liquidators of FTX Group are hopeful they can bring a swift resolution to any disputes and achieve a fair distribution of assets among all affected investors.

They are continuing to work with the Bahamian Securities Commission to ensure that the interests of all parties are taken into consideration.

The Bottom Line

The legal team representing the liquidators of FTX Group are urging cooperation with Bahamian authorities amid allegations of favoritism. It is hoped that through cooperation, a swift resolution can be achieved and all affected investors can receive a fair distribution of assets.

Amidst allegations of favoritism towards FTX liquidators, their legal team has asked for cooperation with Bahamian authorities.

The FTX liquidators have recently come under fire for potential connections with local advisers and stakeholders. The involvement of Bahamian consultants and lawyers with the FTX restructuring has been brought into question.

In response, the legal team representing FTX has called for cooperation with Bahamian authorities to prevent any hint of misconduct. The team stated that they would welcome an official investigation into the circumstances surrounding the FTX restructuring.

The heads of the legal team have also confirmed that they are in the process of reviewing all engagements with any third-party consultants and lawyers to ensure that any connections were transparently approved by the board of FTX.

The FTX legal team added that they are confident that any investigation into the restructuring of FTX would demonstrate that their practices and procedures have been conducted in accordance with best practices.

It is hoped that a full and effective investigation by Bahamian authorities will serve to restore trust and credibility in the integrity of the restructuring process. The legal team behind FTX is confident that their procedures and practices meet the expected standards and will stand firm when scrutinized.

The FTX liquidators have urged the public to refrain from hastily jumping to conclusions and they remain committed to cooperating with the local investigations in the hope of obtaining a just resolution.

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