Court Hearings and Interviews Podcast

The Searles Valley Minerals bankruptcy petition lists, as equity security holders of the debtors, Karnavati Holdings, Inc. and Searles Valley Minerals Inc.

The Delaware bankruptcy court hearing was an abnormal bankruptcy hearing held the day a bankruptcy was filed in Delaware, during a trial in California, before the “first day” hearing in the bankruptcy in Delaware scheduled for tomorrow.

The Delaware bankruptcy judge seemed concerned about what’s going on (in a way that reminded me of the movie Chinatown) and explained he might communicate with the trial judge in California.

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Docket #3223

Center of Main Interests is a reader-supported publication. To receive new posts and support my work, please subscribe.

Center of Main Interests is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.

Center of Main Interests is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.

Center of Main Interests is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.

Center of Main Interests is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.

This is a very interesting hearing, and is available on the bankruptcy court's docket. I am streaming it to make the audio more accessible to the hearing impaired and people domestically and internationally who cannot readily access this publicly available information.

Sorry for the volume issues. The volume is low on the court audio. (It's ok on desktop with headphones.)

The hearing opens with the defense counsel (the Binance side) trying to get the bankruptcy "clawback" claims decided via Hong Kong (China) arbitration panel as opposed to by the US bankruptcy court. In the US, if the arbitration clause isn't enforced then the litigation against the defense/Binance side would typically be decided without a jury, by a US bankruptcy judge, even though the challenged transfers were allegedly foreign company to foreign company transfers.

As such the hearing is a reminder of the many good years FTX had in Hong Kong during its successful period, and the Chinese investment money in and out of FTX, a group of companies that include Alameda entities and many offshore registered companies that are typically depicted as a single American FTX company by association with the Americans among the former FTX executives.

Center of Main Interests is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.

Center of Main Interests is a reader-supported publication. To receive new posts and support my work, please subscribe.

Center of Main Interests is a reader-supported publication. To receive new posts and support my work, please subscribe.

Center of Main Interests is a reader-supported publication. To receive new posts and support my work, please subscribe.