Close date updated to 2024-12-31 3:59 pm
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that is wild that the lawyers in charge are still trying to sue nonprofits to get money back even after they've been able to repay the depositors 122% and pay themselves hundreds of millions. Maybe would have been better for all parties concerned if FTX had never declared bankruptcy, never hired John Ray, and just issued IOU tokens to be redeemed later like bitfinex
@JonathanRay see November and December updates on the case! Filings have started already, including Manifolds funds!
@Jason I don't know the legalese there, but I would assume the direct creditors of the grantee would have a senior claim to the creditors of the grantor, if the latter have any claim at all.
@JonathanRay The grantor's potential fraudulent conveyance or preference claim would presumably make them a general unsecured creditor under US law. But many creditors are neither secured (by a mortgage etc.) or priority (eg certain unpaid employee wages, or taxes) -- and are thus general unsecured creditors too.
