David Adler discusses with Law360 changes he obtained for his clients, a group of four former customers of FTX Trading Ltd. now in Chapter 11 proceedings before the Delaware bankruptcy court, to an order outlining the sale of FTX’s equity stake in an AI technology company that resolved his clients’ objections to the original sale order, ensuring protection of their interests in the sale proceeds within FTX’s master account that includes funds from other sources. The language added to the order made clear that property interests in the sale proceeds were attached to a debtor’s interests in the master account used by all the debtor entities.
3.7.2024