Blockfi submits a request to dismiss the insolvency procedure for Emergent Fidelity from SBF

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Der bankrotte Krypto-Kreditgeber BlockFi hat einen Antrag auf Abweisung des Insolvenzverfahrens für Emergent Fidelity Technologies gestellt, die Holdinggesellschaft von Sam Bankman-Fried (SBF), Gründer und ehemaliger CEO von FTX. In der Bewegung, abgelegt Am Donnerstag argumentierte BlockFi vor dem United States Bankruptcy Court for the District of Delaware, dass Emergent nicht für ein Insolvenzverfahren in Frage komme, da es keine anderen Vermögenswerte als 56 Millionen Robinhood-Aktien habe. BlockFi versucht, den Insolvenzfall von Emergent abzuweisen Erinnern Sie sich an diesen Emergent abgelegt für den freiwilligen Insolvenzschutz nach Kapitel 11 am 5. Februar, fast drei Monate nachdem FTX zahlungsunfähig wurde. Das Unternehmen, das …
Bankrotte crypto loan Blockfi has submitted an application to dismiss the insolvency proceedings for Emergent Fidelity Technologies, the holding company of Sam Bankman-Fried (SBF), founder and former CEO of FTX. In the movement, Blockfi argued on Thursday in front of the United States Bankruptcy Court for the District of Delaware that Emergent is out of the question for insolvency proceedings, since it has no other assets than 56 million Robinhood shares. Blockfi tries to dismiss the bankruptcy case from Emergent. You remember this emergent stored for voluntary bankruptcy protection in accordance with Chapter 11 on February 5, almost three months after FTX was insolvent. The company ... (Symbolbild/KNAT)

The Bankrotte Krypto credit blockfi has made an application to dismiss the insolvency proceedings for Emergent Fidelity Technologies, the holding company of Sam Bankman-Fried (SBF), founder and former CEO of FTX.

in the movement, . On Thursday, Blockfi argued in front of the United States Bankruptcy Court of Delaware that Emergent is out of the question for insolvency proceedings, since there are no other assets than 56 million Robinhood shares.

Blockfi tries to reject the bankruptcy case of Emergent

remember this emergence stored for voluntary insolvency protection according to chapter 11 on February 5, almost three months after FTX has been insolvent.

The company, which is 90 % owned by SBF and 10 % owned by the former FTX manager Gary Wang, had only $ 20.7 million in cash, 56 million Robinhood shares worth around $ 600 million and no other assets.

The Robinhood participation was a bone of contention between SBF and Blockfi due to a loan relationship between the two parties. Shortly after the bankruptcy registration in November, Blockfi sued SBF and emerged on the custody of the Robinhood shares.

During the court hearing in December, the crypto lender explained that the shares in November during a loan contract for 680 million US dollars in which the sister company Alameda Research was involved in FTX were attended as security.

Although the operations are currently in in the care of the US Justice Ministry (DOJ), Blockfi insists on the non-approval of emergent for insolvency proceedings.

"Neither law nor cheapness require a unsuccessful action. But this bankruptcy case asks the court to do exactly that - to" reorganize "an empty shell. Emergent has no employees, no income and no business; His only assets were stocks of Robinhood Markets Inc. (the "shares") worth hundreds of million dollars, "said Blockfi.

"A last tactic for legal disputes"

also argued that Emergent registered bankruptcy as "a last tactic for legal disputes", since it does not try to maximize or maintain the value of its assets.

The needy lender also insisted that the bankruptcy case only existed in order to enrich the liquidators of Emergent, who have already received $ 1.7 million in fees.

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