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A comment on FTX group companies commence voluntary chapter 11 proceedings. Parent comment

Re:FTX group companies commence voluntary chapter 11 proceed... by phire on Friday November 11, 2022 @10:09AM (#33561731)
I can guess:

The US has Chapter 11 bankruptcy, while Antigua and Barbuda might only have something more closer to the US's Chapter 7.

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Re:FTX group companies commence voluntary chapter 11 proceed... by rippercushions on Friday November 11, 2022 @10:20AM (#33561869)
You can't really pick and choose where to have your bankruptcy. This filing is for FTX's US entities, those in Antigua will be wound up with Antigua's rules.
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Re:FTX group companies commence voluntary chapter 11 proceed... by phire on Friday November 11, 2022 @10:35AM (#33562084)
Yes, that's what's weird.

FTX Trading Ltd is "is incorporated in Antigua and Barbuda, and headquartered in The Bahamas", yet the linked statement clearly says FTX Trading Ltd (plus the FTX US entity, and Alameda, and others) are filing for Chapter 11 under US law in Delaware.

Is there a parent company of FTX Trading Ltd that's based in the US?

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Re:FTX group companies commence voluntary chapter 11 proceed... by donedeals on Friday November 11, 2022 @10:58AM (#33562413)
It’s probably because the parentco is filing. Need to see the BK filing to understand.
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Re:FTX group companies commence voluntary chapter 11 proceed... by kgwgk on Friday November 11, 2022 @12:27PM (#33563741)
According to the filing Paper Bird Inc. owns approximately 75% of FTX Trading Ltd. - the rest is owned by third party investors.

https://qz.com/full-text-ftx-bankruptcy-filing-1849772656

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