THE WEATHER REPORT

the provisional liquidators and John Ray, the Chapter 11-appointed head of 134 FTX-related entities that are currently under the Delaware court’s supervision. Besides giving the Bahamian trio the go-ahead to consummate the co-operation deal, it also emerged that the Supreme Court on Tuesday recognised one of Mr Ray’s team as the representative of those Chapter 11 entities so that he can act on their behalf in any legal proceedings in this nation. And Tribune Business understands that the Supreme Court has also agreed to extend FTX Digital Markets’ provisional liquidation for a further six months as requested. Rounding off what was a good outcome for the Bahamian provisional liquidators, Judge Dorsey also backed their arguments and those of Mr Ray in rejecting the US Justice Department’s bid to appoint an independent examiner to probe FTX’s collapse. He agreed that it would result in a duplication of effort and unnecessary costs to the liquidation estates, which were likely to reduce investor/creditor recoveries by more than $100m.

tracking map

Shown is today’s weather. Temperatures are today’s highs and tonight’s lows.