FTX.com Customer Ad Hoc Committee Information Center

On November 11, 2022, 134 entities of the FTX business, the world’s third-largest cryptocurrency exchange, filed for Chapter 11 bankruptcy protection in the United States. The collapse has sent shockwaves through the cryptocurrency market, undermined investor confidence and led to renewed calls for authorities to accelerate the implementation of fit-for-purpose regulations.

The Ad Hoc Committee of Non-US Customers of FTX.com, the foreign exchange operated by FTX Trading Ltd., has organized to advance the collective interests of the FTX.com international customers.

Professional team for the Ad Hoc Committee

The Ad Hoc Committee has retained Eversheds Sutherland as lead counsel and Morris, Nichols, Arsht & Tunnell LLP as Delaware counsel. Eversheds Sutherland is well suited to represent the Ad Hoc Committee for several reasons, including:

• Global reach: Eversheds Sutherland is a top 10 global law firm with over 3,000 attorneys in more than 70 offices in over 30 jurisdictions across Asia, Africa, Europe, the Middle East and the United States
• Leading multidisciplinary Digital Asset team: Eversheds Sutherland has a leading international digital asset practice comprising over 50 attorneys across multiple legal disciplines in key financial centers across the world, including New York, London, Dubai and Hong Kong
• Cross-border restructuring experience: Eversheds Sutherland’s global Restructuring & Insolvency team includes 175 attorneys across key jurisdictions in the FTX.com cases. The US Restructuring & Insolvency team is led by Erin Broderick, Peter Ivanick and Mark Sherrill. Erin was named by Global Restructuring Review as a top 40 “Women in Restructuring” worldwide and has been involved in many of the most significant cross-border insolvency proceedings in the last decade. Peter is internationally recognized for his mastery of bankruptcy litigation, particularly resolving large, complex matters through negotiation and mediation, including his work in the very successful Chapter 11 case of Ambac Financial Group. Mark has a long history of helping to unravel complex financial failures, including major cross-border insolvencies like Lehman Brothers and MF Global
• Corporate fraud investigations and asset tracing experience: Sarah Paul, former federal prosecutor and Eversheds Sutherland’s Co-Global Head of Corporate Crime and Investigations, has vast experience in investigating claims of misappropriation of customer funds, including potential fraud and fraudulent transfer actions, and prosecuting claims for recovery of the assets. Sarah was named by Global Investigations Review as a top 100 “Women in Investigations” worldwide and is well known for leading the massive international Panama Papers investigation. Sarah has also led numerous cross-border investigations involving offshore tax havens and asset tracing, and routinely handles cryptocurrency-related matters for clients

For more information, contact our team: FTXinquiries@eversheds-sutherland.com.