Asset control in dispute between FTX and UCC
As FTX undergoes restructuring, it finds itself clashing with the Official Committee of Unsecured Creditors over asset governance. John Ray III has shown unease about UCC’s idea of diverting $2.6 billion to U.S. Treasury bonds, all to offset anticipated professional expenses of nearly $330 million. FTX has formerly assailed UCC’s strategy and blamed the committee of attempting illegal oversight over client assets.
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As FTX undergoes restructuring, it finds itself clashing with the Official Committee of Unsecured Creditors over asset governance.
John Ray III has shown unease about UCC's idea of diverting $2.6 billion to U.S. Treasury bonds, all to offset anticipated professional expenses of nearly $330 million.
FTX has formerly assailed UCC's strategy and blamed the committee of attempting illegal oversight over client assets.
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