Bankman-Fried Drops Legal Costs Suit Against Excess Insurer

By Emily Enfinger · November 7, 2023, 1:14 PM EST

Days after being convicted of defrauding customers of billions of dollars, FTX founder Sam Bankman-Fried told a California federal court that he was dropping his suit against his excess insurer....

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Bankruptcy Scorecard

Summary

Cryptocurrency exchange FTX filed for Chapter 11 on Nov. 11, 2022, after a rapid collapse in value.

Case Number

1:22-bk-11068

Judge

John Dorsey

Venue

U.S. Bankruptcy Court for the District of Delaware

Capital Structure

Total Liabilities:

Total liabilities are still to be determined, as a full plan has yet to be filed and FTX's tax liability is still being resolved. The IRS has filed a claim for $8 billion.

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Documents

Related Sections

Case Information

Case Title

Bankman-Fried v. Continental Casualty Company

Case Number

5:23-cv-05048

Court

California Northern

Nature of Suit

Insurance

Date Filed

October 02, 2023

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