Appeals court orders an independent scrutiny of FTX bankruptcy
The federal appeals court in Philadelphia ordered that an independent examiner be appointed to scrutinize the FTX collapse. Bankruptcy court judge John Dorsey had earlier denied the trustee’s request. A federal appeals court has ordered following a three-judge bench decision that an independent examiner should scrutinize FTX’s bankruptcy case. Federal court orders for appointment of an examiner in FTX case The Associated Press reported on Tuesday that the appeals court in Philadelphia has reversed an earlier ruling denying a US bankruptcy trustee’s request for an independent examiner. US bankruptcy judge John Dorsey dismissed the trustee’s request in February last year. Judge Dorsey had agreed with FTX’s argument that an examiner’s involvement would only duplicate what new CEO John Ray III, federal agencies and the committee of unsecured creditors was doing. FTX also argued that having an independent examiner ...