Bankrupt cryptocurrency exchange FTX is seeking court permission to divest several Bahamas luxury real estate properties under the settlement terms with the Bahamian liquidators of FTX Digital Markets, a Jan. 9 court filing suggested.
FTX aims to secure permission from the Delaware bankruptcy court to sell these luxurious apartments, provided a buyer offers 80% or more of their appraised value by a licensed Bahamian real estate broker. The recommendation for the sale will come from the Bahamian liquidators, but the properties won’t be sold to insiders as defined by the Bankruptcy Code Section 101, the filing stated.
FTX’s bankruptcy case revealed that the failed exchange had expended a significant sum of its users’ funds to acquire choice properties across the Caribbean. Court filings showed that the exchange bought 36 properties for over $200 million.
The properties encompassed luxurious beachfront homes, including Albany’s high-end condominiums within an exclusive resort comm
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