The FTX Debtors, made up of FTX and its affiliated debtors, and FTX Digital Markets (FTX DM), the Bahamian subsidiary of FTX, announced Jan. 6 that they have reached a cooperation agreement regarding the FTX Debtors’ Chapter 11 bankruptcy case in Delaware and the provisional liquidation of FTX DM in the Bahamas.
Under the agreement, the parties will “share information, secure and return property to their estates, coordinate litigation against third parties and explore strategic alternatives for maximizing stakeholder recoveries.” They have also set parameters for cooperation in each other’s court cases.
In addition, the parties agreed the joint provisional liquidators will take the lead in the disposition of real estate in the Bahamas and confirm digital assets “under the control of the Securities Commission of the Bahamas in the Fireblocks account previously disclosed by the FTX Debtors.”
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