FTX + SBF Chapter 11 Court Filing by John Ray is part of HackerNoon’s Legal PDF Series. This is Part 8 of 20: New Governance Structure - ftxsbfchapter11court ftx
III. ACTION TAKEN SINCE MR. BANKMAN-FRIED’S DEPARTURE46. Many of the companies in the FTX Group, especially those organized in Antigua and the Bahamas, did not have appropriate corporate governance. I understand that many entities, for example, never had board meetings.
47. The following new independent directors have been appointed as directors of the primary companies in the FTX Group:: Mitchell Sonkin is currently a Senior Advisor to MBIA Insurance Corporation in connection with the restructuring of the Firm’s insured portfolio exposure of the Commonwealth of Puerto Rico’s $72 billion of outstanding debt. He is also currently Chairman of the Board of the ResCap Liquidating Trust, successor to ResCap and GMAC Mortgage Corporations. Before joining MBIA, Mr.
48. The appointment of the Directors will provide the FTX Group with appropriate corporate governance for the first time. 49.
The Directors will implement appropriate procedures for the resolution of any conflicts of interest among the Silos and, if necessary, within the Silos as the case progresses, including the potential engagement of independent counsel to represent various Debtors in the resolution of intercompany claims against other Debtors. I expect there to be a multitude of intercompany claims that will benefit from fair resolution under the rules and conventions of U.S.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
'I do not have confidence in it', says John Ray re/ FTX US Financials | HackerNoonFTX + SBF Chapter 11 (Bankruptcy) Court Filing by John J. Ray III, Nov 17, 2022 is part of HackerNoon’s Legal PDF Series. Part 3/20: the WRS Silo - ftx sbf
Read more »
New FTX CEO Says Sam Bankman-Fried Does Not Speak on Firm’s Behalf, After SBF’s Candid Interview With Vox – Bitcoin NewsAfter the Vox interview with SBF, FTX CEO John Ray stressed that the former FTX CEO “does not speak on their behalf.”
Read more »
SBF received $1 billion in personal loans from Alameda: FTX bankrupty filingA formal declaration in ongoing Chapter 11 bankruptcy filings from FTX’s new CEO has revealed further misappropriation of funds by SBF.
Read more »
Read the FTX bankruptcy filing where new CEO blasts SBFInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
Read more »
Despite FTX Bankruptcy, Kevin O'Leary Would Still Invest in SBFMr. Wonderful would still hire Bankman-Fried on his team if the ex-CEO was relegated to a strict crypto trading role.
Read more »
SBF received $1B in personal loans from Alameda: FTX bankruptcy filingMore details emerge from the FTX saga. John Ray III, the man responsible for picking up the pieces after the infamous collapse of Enron, has described the FTX situation as the worst he'd seen in his corporate career.
Read more »