• The US Bankruptcy Court for the District of Delaware recently revealed the agreement between Alameda Research and N Abu Dhabi sovereign wealth fund to sell Alameda Research’s interest in Sequoia Capital.
• The court also approved a $445 million claim by Alameda Research on Voyager Digital regarding loan repayments.
• FTX could recover more than $5 billion in liquid crypto assets and cash due to asset sales approved by the judge John Dorsey.
FTX Exchange and Alameda Research Bankruptcy Proceedings
The saga of the FTX exchange, its sister company Alameda Research, and former CEO Sam Bankman-Fried continues following bankruptcy proceedings. Various discoveries, rejected pleas, and sales of assets have been made as part of this case.
Alameda Research’s Sale Of Interest In Sequoia Capital
Recently, a court document by the US Bankruptcy Court for the District of Delaware revealed an agreement between Alameda Research and N Abu Dhabi sovereign wealth fund to sell Alameda Research’s interest in Sequoia Capital. The Purchaser was chosen due to its offer being superior to four other prospective buyers and speed of execution in closing the deal worth $45 million.
Asset Sales Approved By Judge John Dorsey
Judge John Dorsey has been involved in FTX legal proceedings throughout this process so far. He has allowed asset sales including those from LedgerX, Embed, FTX Europe, and FTX Japan which is expected to raise more than $5 billion in liquid crypto assets and cash for FTX.
Claim By Alameda Research On Voyager Digital
On March 8th, 2021 Judge Dorsey also approved a claim by Alameda Research on Voyager Digital regarding loan repayments worth 445 million dollars. This move is another attempt by FTX to raise enough funds to pay creditors through asset sales approved by Dorsey priorly .