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New York Department of Financial Services issued Guidance on Custodial Structures for Customer Protection in the Event of Insolvency emphasizing importance of sound custody and disclosure practices. This month Securities and Exchange Commission SEC did same.
When it rains, it pours. On January 23, 2023, the New York Department of Financial Services announced that it had issued certain Guidance on Custodial Structures for Customer...
New York Department of Financial Services issued industry guidance to Virtual Currency Entities who act as custodians, Guidance on Custodial Structures for Customer Protection in the Event of Insolvency, highlighting equitable and beneficial interests remaining with the customer.
When a company files for bankruptcy protection, Section 541 of the Bankruptcy Code creates an estate comprised of "all legal and equitable interest of the debtor in property." On July...
On January 4, 2023, Judge Glenn of the United States Bankruptcy Court for the Southern District of New York issued a much-awaited decision in the Celsius Network LLC (along with...