Will any FTXFF grantee be legally compelled to return funds due to FTX's bankruptcy?
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Close date updated to 2024-12-31 3:59 pm
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@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.
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