In a significant development, US Bankruptcy Judge Michael Kaplan has made a ruling to lift the stay suit, enabling the resumption of trial proceedings in the ongoing legal dispute between cryptocurrency lender BlockFi and failed crypto exchange FTX.
According to recent reports, the decision paves the way for BlockFi and FTX to engage in mediation for finalizing claims settlements.
Counterclaims Allowed
BlockFi, a lender operating in cryptocurrency, filed for bankruptcy in late November last year, citing various factors, including the ripple effects of FTX’s sudden collapse earlier that month.
This triggered an automatic stay, effectively halting proceedings between the two parties. BlockFi found itself in a predicament with an estimated $355 million frozen on the crypto exchange’s platform, and it was owed an additional $671 million by FTX’s sister company, Alameda Research.
The stay has now been modified to allow the FTX Debtors to assert, defend, counterclaim, set-off, or
We współpracy z: https://bitcoinist.com/ftx-blockfi-given-green-light-negotiate-settlement/
