Bankruptcy & Restructuring News Headlines for Monday Jan 2, 2023

Here's what we are reading this morning:

Securities Commission of The Bahamas Seeks Court Direction Regarding Disclosure of Information: The Securities Commission of The Bahamas said it moved $3.5 billion from FTX's Bahamian subsidiary, FTX Digital Markets, into its own digital wallets.

Bahamas regulator seized $3.5 billion of FTX crypto assets: The regulator had previously confirmed it was holding some of FTX’s digital assets but did not specify the amount.

The Block: FTX Debtors will seek return of crypto held by Bahamas regulator: FTX Trading and its affiliated debtors said Friday that they would seek the return of crypto in the control of the Securities Commission of the Bahamas to their chapter 11 estates for the benefit of creditors.

FTX Debtors Provide Information Concerning Bahamas Crypto Seizure: The value of the cryptocurrency in this Fireblocks wallet at spot prices at the time of transfer was approximately $296 million, according to, assuming the entire amount of FTT could be sold at spot prices at the time.

Distressed Investing Is Back. These Trades Are Defining The Game: Savvy investors seized tightening credit markets this year to reshape the distressed investing playing field just as more companies look destined for default in 2023.

FTX Creditors Committee Brings On Jefferies and FTI as Financial Advisers - WSJ: The committee of FTX customers chosen to represent the interests of all exchange users in its chapter 11 case hired Jefferies and FTI Consulting as financial advisers.

Pro Take: Crypto Firms’ Empty Pledge to Remake Finance: Some of the most celebrated crypto executives have revealed themselves to be far worse guardians of capital than their traditional counterparts

FTX Japan to Allow Customers to Withdraw Funds Starting in February: The plan would make FTX Japan customers some of the first of the collapsed crypto exchange to get their money back.

Times Square’s Crowne Plaza Hotel Hits Chapter 11 Bankruptcy – Commercial Observer: It seems like a less-than-happy new year for Argent Ventures’ newly reopened Crowne Plaza Hotel in Times Square.

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