Credit: Casimiro/Adobe Stock '$20 Billion in Damages': FTX Bankruptcy Estate and MDL Resolve Differences
"We're optimistic that in each of these cases, in FTX, in Voyager, we're going to be able to get people back their damages," said Adam Moskowitz, co-lead counsel in the FTX multidistrict litigation. "But that's looking backward. If you look forward, how will you deal with this situation?"
September 23, 2024 at 03:05 PM
5 minute read
What You Need to Know
- The FTX bankruptcy estate and the FTX multidistrict litigation attorneys have been feuding for months.
- The two sides have begun to work together based on their realization that there is a '$20 billion out-of-pocket loss for damages.'
- The move comes ahead of Caroline Ellison's sentencing, which is scheduled for Tuesday.
After a six-month battle, attorneys from the FTX bankruptcy estate and the FTX multidistrict litigation are now working together.
Adam Moskowitz, the managing partner at the Moskowitz Law Firm in Coconut Grove, Florida, is co-lead counsel with David Boies, the chair of Boies Schiller Flexner in New York, in the FTX multidistrict litigation. In an interview, Moskowitz attributed the full credit for the breakthrough to John J. Ray III, who took over the reins at FTX as its CEO following its collapse.
FTX CEO John J. Ray III. Photo: Al Drago/Bloomberg NOT FOR REPRINT
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