FTX Group establishes Kroll to update users on legal proceedings

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Altcoins
FTX Group establishes Kroll to update users on legal proceedings

FTX Group has created a Kroll webpage to update the world on its legal proceedings after the company filed for Chapter 11 Bankruptcy. The webpage will be available for the public to access all official and legal documentation filed during the hearings with the United States Bankruptcy Court.

FTX establishes Kroll

FTX Group has announced on Twitter that it has established Kroll to give updates on its legal proceedings after the company filed for Chapter 11 Bankruptcy on November 11th, 2022. The Kroll web page allows the public to view legal documents filed with the United States Bankruptcy Court during the hearing period.

So far, FTX has issued a case background stating that the company and its 101 affiliated debtors filed for bankruptcy almost simultaneously. The company has already uploaded 17 valid documents concerning the petition date (November 11th, 2022) as well as the voluntary petition filing. Under the legal advice of Sullivan & Cromwell LLP, FTX will defend its case against the jury concerning all allegations laid upfront by creditors.

Among the documents already uploaded on the Kroll page is a list of 102 debtors, including Alameda Research and its affiliates, Atlantis technology, Blockfolio, and Global Compass Dynamics. FTX’s downfall remains an unprecedented shock among crypto fanatics.

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Julius Mutunkei

Julius is a blockchain reporter skilled at synthesizing all crypto-related information to make articulate texts easy for anyone to grasp. With a beginner's level certificate in Financial Analysis, Julius can read, interpret and report crypto findings to help investors exercise the best judgment in their decision-making process. When he is not caught up in the crypto frenzy, Julius likes playing a game of FIFA with his online buddies.