Tag: D&O

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Former FTX CEO Seeks $10M Insurance Fund for Legal Defense, Request Opposed by FTX Debtors and Unsecured Creditors

March 31, 2023

Court filings reveal that the FTX co-founder is seeking access to a $10 million insurance plan to cover his attorney fees. FTX debtors and unsecured creditors have opposed Sam Bankman-Fried’s request, arguing that every dollar spent on his defense is “one less dollar” available to cover the losses of the debtors. FTX Debtors and Unsecured…
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FTX lawyers, creditors slam SBF’s petition to get legal fees reimbursed

March 30, 2023

The creditor’s committee and FTX lawyers have raised several objections to Sam Bankman-Fried’s request. A hearing date is set for April 12. Sam Bankman-Fried’s new petition to have his legal expenses reimbursed has been met with fierce objection from lawyers representing the crypto exchange and its creditors’ committee. As per previous reporting by Cointelegraph, Bankman-Fried’s…
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