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FTX Sues Former Employees of Hong Kong Affiliate Salameda, Seeking $157 Million

FTX Sues Former Employees of Hong Kong Affiliate Salameda, Seeking $157 Million
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Sam bankmanLesley burgessMichael burgessMatthew burgessKevin nguyenDarren wongHong kong incorporatedSam bankman friedPreference periodBankruptcy codeMichael burges

FTX Sues Former Employees for $157 3 Million Amid Bankruptcy Proceedings

In the midst of its bankruptcy proceedings, cryptocurrency exchange FTX has filed a lawsuit against former employees of Salameda, an affiliated entity, seeking to recover approximately $157.3 million. Allegations include fraudulent asset withdrawals and preferential transfers made before FTX declared bankruptcy. The legal action is part of FTX's ongoing efforts to reclaim funds owed to creditors.

Hong kongMichael burgessSam bankmanDarren wongKevin nguyenMatthew burgessLesley burgessDigital currency groupPreference periodSam bankman friedGenesis global capitalMichael burges

Pennsylvania provides an out for Dean farmers

Pennsylvania provides an out for Dean farmers In late November, hundreds of dairy farmers received letters from a Minnesota law firm representing the Dean Foods Estate. Those attorneys for the estate laid the claim that milk payments during the 90-day period immediately after Dean’s bankruptcy filing on November 12, 2019, fell under “the Preference Period from the Debtor.” In short, the unscrupulous attorneys wanted dairy farmers to return a portion of their milk checks. Pay up by December 24, 2020 (Christmas Eve), and they’d only charge 10 cents on the dollar. Hoard’s Dairyman Notebook blogger Jessica Peters was one farmer who received a letter. She detailed her thoughts in her blog entry, “I’m tired of being treated like this.”

United statesCommonwealth of pennsylvaniaLarry leeJessica petersAmerican farm bureau federationDean foodsPreference periodChristmas eveDairyman notebookPennsylvania milk marketing boardPennsylvania attorney generalDean foods estateAvoidance claim declarations explanationFarmer declarationHauler declarationBrownfield ag news