News From Law.com
In the 16 months before its Chapter 11 bankruptcy filing in November 2022, FTX retained Sullivan & Cromwell on 20 separate matters, including critical steps in the company's trajectory. Those engagements have complicated the law firm's work as debtor's counsel to FTX in recent months. The situation offers a cautionary tale for law firms that want to take on the biggest, messiest restructurings after representing the same client prebankruptcy, according to several bankruptcy ethics experts interviewed for this story.
Cryptocurrency
February 27, 2024, 4:00 AM