FTX lead bankruptcy counsel Sullivan & Cromwell is wrong for its role because the firm’s prior work for the crypto exchange raises impartiality concerns, four US senators said.
“The firm is simply not in a position to uncover the information needed to ensure confidence in any investigation or findings,” Sen. John Hickenlooper (D-Col.) and three colleagues wrote.
They questioned whether Sullivan & Cromwell could effectively investigate current and former partners who were central in FTX’s conduct. “Given their longstanding legal work for FTX, they may well bear a measure of responsibility for the damage wrecked on the company’s victims,” the senators said.
‘Enforcement 40’ for 2020
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