Nov 15 (Reuters) – FTX’s Bahamas unit, FTX Digital Markets, is searching for safety from collectors in the US 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 belongings within the nation. Non U.S.-companies use the measure to dam collectors who need to file lawsuits or tie up belongings in the US.
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 alternate Binance deserted a proposed rescue deal.
Reporting by Akriti Sharma in Bengaluru; Enhancing by Clarence Fernandez
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