Liquidators Appointed for FTX

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NASSAU, BAHAMAS – Three court-appointed liquidators have been announced by the Securities Commission, in a move to stop the hemorrhage after FTX filed for Chapter 11 Bankruptcy Protection in the United States last Friday.

The latest statement from the Commission announcing Brian Simms, KC, along with Kevin Cambridge and Peter Greaves of Price Waterhouse Coopers.

The three appointments are based on an application to the Supreme Court.

The statement says, “Given the magnitude and urgency, and international implications, the Commission recognized it had to move swiftly to use its regulatory powers to further protect the interests of clients, creditors and other stakeholders globally.

Police are working in conjunction with the Commission, investigating the circumstances behind FTX CEO Sam Bankman-Fried losing $16 billion in less than a week and resigning from the company.

In the meantime, all of FTX’s assets are frozen.

President of the Bahamas Real Estate Association Nikki Boeuf weighing in on the impact of the company’s legal woes.

She’s anticipating a ripple effect, even in the real estate market.