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Four US Senators Urge Independent Investigation of FTX and Related Companies To Ensure Justice
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2023-01-14
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Policy
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Summary:- Find Out More -Four US senators are urging a federal bankruptcy judge to rule in favor of having an independent examiner investigate FTX and its rel
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Four US senators urged a presiding judge of the bankruptcy of the federal government to make a ruling, which was applicable to the investigation of FTX and related enterprises by the independent examiner.
U.S. Senators John Hickenlopper, Thom Tillis, Elizabeth Warren and Cynthia Lummis sent a letter to John Dorsey, the judge of the Delaware District Foreign Bankruptcy Court, to apply the resolution of holding a list of independent examiners as part of the FTX bankruptcy liquidation procedure.
According to the statement in the letter, the legislators worried that the law firm Sullivan&Cromwell meant FTX in the litigation process, and cooperated with the company's new senior management team to detect the suspected wrongdoing.
"For us, in this case, we must appoint a powerful, objective, fair and impartial examiner to conduct a complete investigation of FTX, FTX US and relevant entity lines to find out the necessary objective facts, ensure that the justice of FTX users - and the wider masses - is served, and notify the United States Congress of its legal consideration of the future digital currency."
Members of Parliament declared that this law firm was not a "disinterested" ruling party, because he "has been providing consulting services for FTX for many years, leading to its bankruptcy, and a partner even served as the general legal adviser of FTX"
"In addition, there are some surprising things that Sullivan and Cromwell claimed that he was" selfless "in the value of the United States Bankruptcy Law. However, the basic questions about the enterprise's participation in the FTX operation have not been answered, including how many problems Sullivan and Cromwell lawyers have, or suspected of fraud or lack of appropriate laws and regulations to manipulate Sullivan&Cromwell, which means that FTX, if not Sullivan and Cromwell, is actually the debtor's "key external consultant"
Frankly speaking, the company has no way to publish the information needed to ensure confidence in any research or discovery. "
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