BlockFi asks court to dismiss SBF's Emergent Fidelity's bankruptcy petition for 55 million Robinhood shares

Crypto lending firm BlockFi, which has filed for bankruptcy, is asking the court to dismiss Emergent Fidelity Technologies’ bankruptcy petition, as the battle for about $600 million in assets owned by SBF grows more complex, CoinDesk reported. Emergent Fidelity, an Antigua shell company 90% owned by SBF, owns 56 million shares of Robinhood (HOOD) and some cash. Legal disputes between FTX, BlockFi, the Department of Justice, and Robinhood’s board of directors surround the assets, which BlockFi believes Emergent Fidelity’s Antigua liquidators have complicated by filing for Chapter 11 bankruptcy protection in the United States. BlockFi believes the bankruptcy filing was filed to advance the interests of Antigua liquidators, who have received at least $1.7 million, and BlockFi has taken legal action to secure the shares.