FTX was given the go-ahead to loosen its purse strings to pay for business expenses amid its own bankruptcy proceedings — the overall cost of which promises to sap the creditors' pot.
FTX was given the go-ahead to loosen its purse strings to pay for business expenses amid its own bankruptcy proceedings — the overall cost of which promises to sap the creditors' pot.: The court on Monday granted FTX's request to pay the folks that they employ in what they call "ordinary course of business" — for FTX that means an army of lawyers — as well as any outstanding sums owed to service providers.
Small wonder why some claimants bail and sell their settlement rights away for pennies on the dollar.If FTX is able to recover billions to divide amongst its creditors and, like Enron, 10% is paid out in legal expenses, those costs would easily exceed the $40 million FTX spent on
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