A number of Australian companies including top law firm Clayton Utz, Atlassian, National Australia Bank and some local fintechs have been implicated in FTX’s US bankruptcy proceedings as investigators seek more information about the crypto group’s global operations.
Documents filed with Delaware bankruptcy court in late December show hundreds of companies and government agencies worldwide who have been contacted by corporate intelligence firm Kroll, which is seeking more information about FTX and its debtors following its spectacular collapse in November.
FTX, which was among the largest crypto exchanges in the world, filed for bankruptcy protection in the United States last year in one of the most high-profile crypto explosions after traders lost $6 billion ($8.7 billion) in three days from the platform and the competitor exchange Binance has abandoned a bailout deal.
Founder Sam Bankman-Fried was arrested in the Bahamas on December 12 after US prosecutors filed an indictment accusing him of leading a years-long cryptocurrency exchange scam. He has pleaded not guilty to criminal charges and is likely to face trial in October in what is expected to be one of the most high-profile white-collar fraud trials in recent years.
FTX and its affiliates have retained Kroll to oversee the company as its claims adjuster to help it navigate the US bankruptcy proceedings, with the restructuring administration firm working to ensure all interested parties are kept informed of developments.
Australian firms listed in the US court documents as having been contacted by Kroll include Sydney-based law firm Clayton Utz, which represents global parent FTX Group and its interests in Australia, and Atlassian, who are not commenting.
The NAB said that while it had no partnerships, relationships or engagements with FTX, it did have a rental guarantee through a company that FTX acquired locally in 2021, for which it holds full bail security.
Another Australian company, Moneytech, is also mentioned several times in the document, but the company believes administrators are trying to reach Monoova, which used to be part of Moneytech. Monoova, a payments platform, doesn’t hold any digital currency, but some of its clients likely had deals with FTX.
https://www.smh.com.au/business/banking-and-finance/australian-firms-dragged-into-ftx-bankruptcy-saga-20230111-p5cbq9.html?ref=rss&utm_medium=rss&utm_source=rss_business Australian firms dragged into FTX bankruptcy saga