The dispute over Sullivan & Cromwell’s relationship with FTX shows the range of powerful institutions that were eager to help Mr. Bankman-Fried during his rapid rise, even as he resisted basic due diligence and eschewed traditional corporate governance. And it offers a preview of a conflict that may unfold at Mr. Bankman-Fried’s trial in Manhattan, where he is expected to shift some of the blame for FTX’s bankruptcy to Sullivan & Cromwell and a second law firm that advised him, Fenwick & West.
‘Enforcement 40’ for 2020
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