According to BlockBeats, on October 9, FTX filed a motion seeking approval of a settlement agreement with former Alameda Research head Caroline Ellison, which would require her to hand over "substantially all remaining assets."
The motion, filed on Oct. 7, asks the court to authorize a settlement with Ellison, in which she agrees to transfer any of her assets not seized by the government in the criminal case or used to pay legal fees to FTX creditors.
The motion states that once she fulfills the terms of the agreement, "Ellison will no longer own any assets, other than certain personal physical property," but does not specify the value of the assets she will give up.
She also agreed to cooperate with the investigation and litigation against the bankrupt crypto exchange, which could include sharing documents or information obtained during her time as the former head of FTX’s sister company and Sam Bankman-Fried’s ex-girlfriend.
FTX believes that this settlement is as beneficial as continuing to pursue Ellison’s assets in another lawsuit because it substantially covers all of the assets they could potentially recover while her additional cooperation provides significant value.
A hearing on the proposed settlement is scheduled for November 20. (Cointelegraph)