A law firm involved in FTX's bankruptcy is under fire from 4 senators after an ex-customer noted
that it earned $20 million from the crypto giant
Four US senators have raised concerns about the law firm handling FTX's bankruptcy case, Sullivan & Cromwell, due to the two companies' past relationship.
The bipartisan letter was sent on Monday by Democrats Elizabeth Warren and John Hickenlooper, and Republicans Thom Tillis and Cynthia Lummis, in response to a motion filed in the Delaware bankruptcy court on January 4.
An FTX customer called Warren Winter called on the court to disqualify Sullivan & Cromwell as the debtors' counsel, or otherwise "provide robust disclosures." According to his motion, which Insider has seen, FTX paid the law firm $20.5 million in fees and retainers before it filed for bankruptcy on November 11 last year.
That court filing also pointed out that FTX US's general counsel, Ryne Miller, was a partner at the same law firm which is now investigating possible wrongdoing at FTX.
https://www.msn.com/en-us/money/companies/a-law-firm-involved-in-ftx-s-bankruptcy-is-under-fire-from-4-senators-after-an-ex-customer-noted-that-it-earned-20-million-from-the-crypto-giant/ar-AA16d99Z