FTX lawyers and others have filed an objection to the appointment of an independent examiner, arguing that it could cost $100 million and “provide no benefit” to creditors.
FTX lawyers argued that creditors would not benefit from an examiner investigation which duplicates investigations led by FTX’s CEO John J. Ray III, a committee of creditors, law enforcement agencies, and congress, adding:
The creditors committee, also known as The Official Committee of Unsecured Creditors, submitted their ownto the appointment of an independent examiner on Jan. 25, also citing the prohibitive costs involved and the investigations of various parties which are already underway. “An examiner may also allow for a faster and more cost-effective resolution of these cases by allowing Mr. Ray to focus on his primary duty of stabilizing the Debtors’ businesses while allowing the examiner to conduct the investigation.”the appointment on Jan.
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