FTX Gets Court Approval for “First Day” Motions

EFTX Trading Ltd. (d.b.a. FTX.com) and approximately 101 other affiliated companies (collectively, the “FTX Debtors”) announced today that the United States Bankruptcy Court for the District of Delaware (the “Delaware Federal Court”) granted interim and final approvals for all “First Day” motions related to the FTX Debtors’ Chapter 11 petitions filed on November 11, 2022.

Additional Information

Kroll has been appointed as the FTX Debtors’ claims agent, and all formal documents filed with the Delaware Federal Court may be accessed online at https://cases.ra.kroll.com/FTX/

John J. Ray III, appointed overseer, interim CEO of FTX, and one of the most experienced restructuring executives in the world said:

“With the Court’s approvals of our First Day motions, we are moving forward as expeditiously as possible in our efforts to maximize value for all FTX stakeholders. We will continue working to implement necessary controls, and secure and marshal the Company’s assets. As we review the business, we have already begun receiving interest from potential buyers for our assets and we will conduct an orderly process to reorganize or sell FTX assets around the world for the benefit of stakeholders.”