Bahamas court approves temporary liquidators for FTX Digital Markets

The Supreme Court of the Bahamas has granted the Securities Commission’s application to appoint temporary liquidators for FTX Digital Markets (FDM).

According to the press release, Kevin Cambridge and Peter Grives of PwC have been appointed. The oversight will be conducted by Bryan Sims, senior partner at the law firm Lennox Parton, who heads the bankruptcy and restructuring group.

“Given the scale, urgency and international implications of the unfolding events around FTX, the Commission has moved to exercise its powers under the law to further protect customers, creditors and other interested parties,” the Commission said.

In the near term, the Commission plans to coordinate with other regulatory authorities, noting that the event is multinational in scope.

The regulator said the investigation is not limited to the Bahamas-registered FDM; it may involve FTX Trading, Alameda Research and other affiliated entities, as their leadership is believed to be within the jurisdiction.

The agency also announced “full support” for police actions if required.

On 11 November, the parent company FTX, Alameda Research and about 130 affiliated firms filed for bankruptcy.

On the same day the Commission blocked the assets of FDM and other entities linked to the company, and suspended the license.

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