While a federal judge deems an independent examiner for FTX's bankruptcy case an 'unnecessary burden,' a US Trustee is arguing otherwise.
Lawyers for Andrew Vara, the United States Trustee representing the interests of the Department of Justice in crypto exchange FTX’s bankruptcy proceedings, has filed an appeal against a federal judge’s denial of a motion appointing an independent examiner in the case.
In a March 6 filing in U.S. Bankruptcy Court for the District of Delaware, the legal team petitioned to have the U.S. District Court consider an appeal for a February ruling from Judge John Dorsey. The federal judgethat he would deny a motion to appoint an examiner in the FTX bankruptcy case, saying it would be an “unnecessary burden” on the firm’s debtors and creditors.
At the time, Judge Dorsey said the costs of an examiner “would likely exceed one hundred million dollars” and “not be in the best interest of the creditors”. Both Vara as well as a group of four U.S. senators
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