'An examiner would not be in the best interest of the creditors,' Judge John Dorsey said.
The decision comes weeks after an examiner released a lengthy report in the Celsius bankruptcy.Connect/Create WalletNo wallet? No problem. You can set one up for free. We recommend Torus for first-time users.A judge denied a request to appoint an independent examiner in FTX’s bankruptcy case, noting that one would be too expensive when multiple investigations into the troubled crypto exchange are underway.
The U.S. Trustee overseeing the bankruptcy had asked the court to appoint an examiner. The FTX debtors and others objected, saying an examiner would be too costly to the bankruptcy estate and could pose security concerns. “There’s no indication they were involved in any wrongdoing, and according to Mr. Ray, they’ve been stripped of any decision-making authority,” Dorsey said.
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