A judge has approved FTX_Official's sale of assets in Sequoia Capital Fund to Abu Dhabi's investment arm. jackschickler reports
In a declaration requested by FTX on March 8, Judge John Dorsey declared that the sale to Al Nawwar Investments RSC Limited met the requirements of U.S. bankruptcy law, which sets restrictions to prevent unduly hasty divestment of assets.
The bankrupt company also requested an indefinite delay to its sale of stock-clearing business Embed, originally conceived as a quick way to raise funds for outstanding creditors., originally schedule for Feb. 27 and subsequently postponed, is now to be put on hold “until further notice,” a separate court document said, without providing further reasoning.
FTX filed for bankruptcy on Nov. 11 and, now under the management of restructuring expert John J. Ray III, has since been engaged in attempts to recoup missing customer funds, including selling assets such as
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