Bankrupt crypto lender BlockFi has moved to recover several assets in a bid to settle its customers as part of its ongoing bankruptcy proceedings. And the company is standing firm that its customers should take priority over fellow bankrupt company FTX.
BlockFi Responds To FTX’s Claims
In a filing dated August 21, BlockFi objected to FTX’s claims on several grounds, including the fact that it alleges that the latter’s claims are baseless and lack merit. The company further alleges that FTX shouldn’t be allowed to profit from its wrongs and take precedence over its “ultimate victims,” who are BlockFi’s customers and creditors.
According to the court document, FTX debtor entities had, on March 31, 2023, filed an addendum attached to its proof of claim where it sought to recover over $5 billion from BlockFi as part of its creditors. BlockFi told the court that, if any of FTX’s claims are allowed, such claims should be “equitably subordinated.”
The doctrine of equit
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