The white-shoe law firm handling FTX's bankruptcy proceedings faces scrutiny for its connections to the troubled exchange.
Sullivan & Cromwell will face questions about whether it can represent the FTX debtors in the company’s bankruptcy case during a court hearing on Friday.
A bankruptcy court judge will hear arguments on Friday about whether the white-shoe law firm was too close to the troubled crypto exchange before it imploded. But FTX CEO John Ray, who took the helm of the company in November, argued in court filings that knocking Sullivan & Cromwell off the case could “severely” or “irreparably” harm efforts to get money back to creditors and customers.
“When I would visit NYC, I would sometimes work out of S&C’s office,” Bankman-Fried said. The FTX founder is facing criminal fraud charges in a separate case, and has been critical of Ray in the press. He reposted aWinter, the customer objecting to the law firm’s role in the case, noted links between FTX General Counsel Ryne Miller and Sullivan & Cromwell in his court filing.
Dan Friedberg, who previously served as chief compliance offer for FTX US and chief regulatory offer of FTX International, joined Warren's objection in a court filing on Thursday afternoon. Friedberg claimed he had"several disturbing interactions" with Sullivan & Cromwell after FTX filed for bankruptcy protection.
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