Media Mentions
Schulte Roth & Zabel partner Doug Mintz quoted in The Deal
January 25, 2024
Schulte Roth & Zabel partner Doug Mintz commented on the potential disputes related to FTX’s bankruptcy plan in The Deal article titled, “Bitcoin Spike Burns FTX Creditors.”
In recent months, the price of the digital currency has more than doubled, leaving creditors in the bankruptcy case of FTX Trading Ltd. to contest the value of FTX’s assets. Under the terms of the company's current proposed bankruptcy plan, customers who held digital assets with FTX would be compensated in cash in an amount equivalent to their value on the day the company filed for bankruptcy. However, some creditors are contending that their payouts should be adjusted to reflect its current increased value.
Doug noted that each side has its merits, he stated, “There’s an argument to be made about what it’s worth when it gets to confirmation.”
Looking toward future implications of this decision, Doug added, "[The] biggest impact is the way courts will value an ever-changing, highly volatile asset like crypto.”
Read more here.
