Active Matters

Opposition to Appointment of Sullivan & Cromwell as FTX Bankruptcy Counsel

January 2023

What's this case about? 

The collapse of the FTX cryptocurrency empire has spawned a variety of legal actions. One such action is the consolidated bankruptcy proceeding before the Bankruptcy Court for the District of Delaware. This proceeding concerns more than 130 FTX-related business entities. The case is FTX Trading, Ltd., Case No. 22-11068 (Bankr. D. Del.). 

You can access the docket and other information about FTX Trading here.

What is The Hoda Law Firm's involvement?

Sullivan & Cromwell, one of the world's most prestigious law firms, has applied to be appointed counsel to the FTX entities. It is widely known, however, that Sullivan & Cromwell did millions of dollars worth of legal work for the FTX entities before their bankruptcy and that former Sullivan & Cromwell lawyers served as General Counsel to FTX US and FTX Ventures. 

On behalf of our client Warren Winter, The Hoda Law Firm and its co-counsel lodged an Objection – and later an Amended Objection – to the appointment of Sullivan & Cromwell as the FTX entities' counsel. To download the Amended Objection, click here.

What's Next?

The hearing on Sullivan & Cromwell's appointment took place on January 20, 2023, at 10 a.m. (EST). At this hearing, the Judge heard evidence and arguments concerning Sullivan & Cromwell's activities and appointment. Ultimately the judge overruled the objection to Sullivan & Cromwell's appointment. To hear an audio recording of the hearing, click here.

Practice area(s): Bankruptcy / Debt, Civil Litigation

Court: Bankruptcy Court for the District of Delaware

Marshal Hoda

Marshal J. Hoda is an award-winning civil litigator passionate about fighting for his clients, legal futurism, mountaineering, and his dogs Leo and Sid.