A lawyer representing provisional liquidators overseeing FTX’s operations in the Bahamas has pushed back against allegations officials in the country were using the collapse of the crypto exchange to benefit its residents first.
In a Dec. 16 hearing for FTX Trading’s bankruptcy proceedings, White & Case partner Jason Zakia said allegations made by debtors concerning assets and Bahamian authorities were “wholly without merit.” The legal team represented provisional liquidators for FTX Digital Markets — the firm’s operations in the Bahamas — whose appointments were approved by the country’s Supreme Court in November and had “no involvement” in the downfall of FTX prior to its bankruptcy, according to Zakia.
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