Andy Dietderich, Co-Head of S&C’s Global Finance & Restructuring Group, discussed FTX Trading’s Chapter 11 case with Law360, which called this high-profile bankruptcy “the most notable case of the year.” As lead counsel to FTX, Andy said that this case required the breaking of new legal ground. “There was no pre-bankruptcy law about what crypto was or the rights it provided,” he said.
“I think it’s a story that Chapter 11 can do anything,” Andy said. “The major crypto cases are examples of where bankruptcy can take something extremely complicated and be the only way to resolve it fairly.”
Read: “The Top Bankruptcy Cases And Issues Of 2023.”