According to Cryptopolitan: A U.S. court has ruled in favor of Three Arrows Capital (3AC), approving its $1.53 billion claim against FTX. This decision marks a significant development in the ongoing legal battle over the collapsed exchange’s remaining assets.
Key Rulings and Developments
Court Rejects FTX’s Objections: The ruling dismissed FTX’s debtors’ efforts to block 3AC’s claim expansion.
FTX’s Record-Keeping Delays Blamed: The court found that FTX’s failure to provide timely financial records contributed to delays in 3AC’s claim process.
Original $120 Million Claim Expanded: 3AC initially sought $120 million but later alleged breach of contract, unjust enrichment, and fiduciary duty violations, justifying the $1.53 billion demand.
Liquidation Controversy: Court documents reveal that 3AC had $1.53 billion in assets on FTX, which were liquidated to cover a $1.3 billion debt.
FTX Bankruptcy Battle Intensifies: This ruling further complicates the creditor claims dispute, as multiple entities fight over FTX’s remaining assets.
