The letter from US senators calling for an independent examiner in the FTX case has been slammed as 'inappropriate' by the bankruptcy judge John Dorsey.
A spokesperson from Sullivan & Cromwell told Cointelegraph that the law firm met the definition of “disinterested” as per the U.S. Bankruptcy Code and had “never served as primary outside counsel to any FTX entity."The judge’s dismissal of the Senators’ letter does not mean that he will reject the motion to appoint an independent examiner or approve Sullivan & Cromwell as counsel to FTX.
The judge will still need to review the objection to the Sullivan & Cromwell appointment from FTX creditor Warren Winter, whose representatives filed an amendedon Jan. 10 claiming the appointment could undermine the public’s faith in the bankruptcy process and the law firm itself was a “target for investigation” regarding its own “potential liability.”
Independent examiners are often appointed by bankruptcy courts to investigate details of complex cases brought before them and are able to present information to the courts from an independent point of view. They have been appointed in other high-profile bankruptcy cases such as Lehman Brothers during the subprime mortgage crisis and the
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