On Dec. 1, 2022, an attorney for the U.S. Trustee submitted a written letter to Delaware bankruptcy court officials that seeks to establish an independent examiner to investigate the FTX Chapter 11 bankruptcy proceedings. The U.S. Trustee explained in the letter that FTX’s collapse was comparable to complex bankruptcy cases like Lehman’s, Washington Mutual Bank’s, and New Century Financial’s. Moreover, while the U.S. Trustee submitted a filing that requested a third-party examiner, former FTX CEO Sam Bankman-Fried has continued to appear in numerous interviews with the media.
U.S. Trustee: An Examiner Should ‘Investigate the Substantial and Serious Allegations of Fraud’
The U.S. Trustee, a component of the U.S. Department of Justice, is getting involved with the FTX bankruptcy case after attorney Andrew Vara filed a request for an independent examiner. The regulatory entity is responsible for overseeing the administration of bankruptcy proceedings in order to make sure it p
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