© Reuters. FILE PHOTO: FTX brand is seen on this illustration taken, November 8, 2022. REUTERS/Dado Ruvic/Illustration//File Photograph
(Reuters) – FTX’s Bahamas unit, FTX Digital Markets, is searching for safety from collectors in america below Chapter 15 of the U.S. Chapter Code, a court docket submitting confirmed on Tuesday.
Such a transfer permits a international debtor to defend property within the nation. Non U.S.-companies use the measure to dam collectors who wish to file lawsuits or tie up property in america.
Father or mother FTX filed for chapter on Friday in one of many highest-profile crypto blowups, after merchants rushed to withdraw $6 billion from the platform in simply 72 hours and rival change Binance deserted a proposed rescue deal.
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