Joint liquidators from the FTX Digital Markets restructuring process Peter Greaves and Brian Simms KC join the podcast to provide much-needed clarity and behind-the-scenes perspective on the FTX insolvency. 

They discuss the current status of the liquidation process, the options for creditors to file claims, and the expected recovery amounts. 

They also address the challenges of dealing with the lack of accounting books, and the complexity of the FTX insolvency due to the large number of customers and creditors across multiple international jurisdictions. 

A must-listen episode for anyone interested in a behind-the-scenes look at the bankruptcy and liquidation process behind one of the biggest corporate collapses of the century. 

Show Highlights

→The complex nature of the FTX insolvency, with challenges ranging from a large number of customers and creditors across multiple international jurisdictions

→How creditors have the option to file claims in either the US or the Bahamas, with the expected recovery amounts being similar in both cases

→How the lack of accounting books and the commingling of customer assets made it a challenge for the liquidators to determine the actual assets of the company

→Why entrepreneurs need to seek advice and proper structuring to avoid similar situations 

→How the liquidators are working to maximize recoveries for customers and ensure a fair distribution of assets

For any of our listeners affected by the FTX insolvency, this is a reminder that anyone with exposure to FTX can file a claim under the Bahamas process by August 16th using this link: https://digitalmarketsclaim.pwc.com/