US Trustee Challenges FTX Reorganisation Plan, Citing Legal Concerns !!
Andrew R. Vara, the US Trustee overseeing the FTX bankruptcy case, has reportedly raised significant objections to the crypto exchange’s amended reorganisation plan. Specifically, Vara highlighted ten issues with the amended reorganisation plan.
The most critical of these include broad legal exemptions for many of those involved with bankruptcy, unequal reimbursement of creditors by size, and the refusal of the bankruptcy estate to carve out costs related to a data breach its service provider suffered last year.
