It took over a week just to schedule FTX’s first bankruptcy hearing, but it finally happened ─ here is the what’s what. Thanks to one of CoinDesk’s Reporter/Editor live-tweeting the hearing on Twitter, we get to know the latest news from the comfort of wherever we might be.
The first tweet was posted on 23 November at 12.05am detailing the number of people in the Zoom call, with the next tweet three minutes later that implied the beginning of the hearing.
You can check it out here: https://threadreaderapp.com/thread/1595086041924468736.html
According to Yahoo! Finance, the two-hour hearing “was a traditional measure meant to authorize FTX’s requests to pay its advisors, employees, and vendors, as well as address disputes over how the case proceeds in its initial stages.” However, what the transpired during the first hearing confirmed speculation that FTX’s Chapter 11 reorganisation is probably one of the more unique, to put it nicely, cases to go before a U.S. bankruptcy court. FTX’s own lawyer said it was “an unprecedented matter.”
Based on the live tweets, it looks like there will be “some kind of evidentiary hearing on Dec.16 2022 at 10:00 a.m. ET”.
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