The joint provisional liquidators of FTX Digital Markets — the agency’s subsidiary within the Bahamas — has launched a report on the corporate’s bodily property within the island nation.
In accordance with affidavit filed by a PricewaterhouseCoopers companion with the Bahamas’ supreme courtroom on Feb. 8, FTX’s joint provisional liquidators, or JPLs, stated the corporate had bought 52 properties within the Bahamas, together with items “within the identify of particular person workers or kinfolk of SBF, regardless of FTX Digital offering the funding”. These properties, which included housing for FTX workers and business workplace area, had been value roughly $255 million and bought by an FTX subsidiary.
The JPLs additionally recognized “a fleet of autos” FTX’s workers had used across the island value roughly $2.4 million, $500,000 value of workplace furnishings and laptop gear, and 13 leased storage items whose contents nonetheless have to be assessed. The liquidators stated they might “begin disposals” following approval from the Bahamas’ supreme courtroom.
It’s unclear the place many people nonetheless employed at FTX amid chapter proceedings had been working. FTX CEO John Ray stated in chapter courtroom on Feb. 6 that the corporate now not had bodily workplaces and was as a substitute working within the metaverse — although this may increasingly have been referring to FTX’s headquarters fairly than native subsidiaries.
In accordance with the JPL report:
“Most workers had been now not reporting to the FTX Digital workplace in The Bahamas for work. Many key workers of FTX Digital had been expatriates who had moved to The Bahamas on employment visas, and it was subsequently learnt that many had bodily left The Bahamas across the time of the appointment.”
The report adopted the FTX debtors saying on Jan. 6 that they had reached an settlement with FTX Digital geared toward liquidating or disposing of property tied to the Bahamas’ subsidiary. The Bahamas’ supreme courtroom ordered all FTX Digital digital property transferred to a pockets managed by the Securities Fee of the Bahamas on Nov. 12 — sooner or later after FTX filed for chapter in america.
Associated: Bahamas regulator denies asking crypto alternate FTX to mint new tokens
Chapter proceedings for FTX are underway within the U.S. Chapter Court docket for the District of Delaware. The choose within the case dominated on Feb. 8 that the FTX debtors had been approved to challenge subpoenas to sure people together with Bankman-Fried and his fast household.
