FTX creditors tap Paul Hastings LLP for representation: reports

Bankruptcy • December 22, 2022, 8:52AM EST
UPDATED: December 22, 2022, 8:58AM EST
The Block

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  • FTX creditors will be represented by Paul Hastings LLP in the crypto exchange’s bankruptcy proceedings.

FTX creditors will be represented by Paul Hastings LLP in the crypto exchange's high-profile bankruptcy proceedings.

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Paul Hastings was chosen from a pool of candidates by a nine-member committee formed last Thursday, according to The Wall Street Journal, citing people familiar with the matter. The law firm later confirmed the news to CoinDesk.

The ongoing bankruptcy proceedings for FTX see the company attempting to reclaim more than $1 billion spread around the world. Its founder and former CEO, Sam Bankman-Fried, was in FBI custody and extradited to the U.S. from the Bahamas on criminal charges. Caroline Ellison, the former CEO of Bankman-Fried's sister firm Alameda Research, agreed to a plea deal with the U.S. Department of Justice. FTX co-founder Gary Wang did the same.


Disclaimer: The former CEO and majority shareholder of The Block has disclosed a series of loans from former FTX and Alameda founder Sam Bankman-Fried.

© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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Adam is the managing editor for Europe, the Middle East and Africa. He is based in central Europe and was a managing editor and podcast host at the crypto exchange OKX's former research arm, OKX Insights. Before that, he co-founded BeInCrypto.com, which he elevated into one of the leading crypto media brands at its peak as the editor-in-chief. Earlier, he served as the editor-in-chief at Bitcoinist.com. Before joining the blockchain and crypto industry, he worked for Looper.com, Grunge.com and SVG.com. He tweets via @XBT002 and can be emailed at [email protected].

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