The Department of Justice's U.S. Trustee in the FTX bankruptcy case has moved for the court to appoint an independent examiner.
will continue to act as the CEO, seeking to either preserve what remains of the estate or liquidate it in the interest of all stakeholders.Vara's motion seems to be especially focused on whether or not criminal conduct took place within FTX and related companies owned by Sam Bankman-Fried.
Comparing the case to that of "Lehman, Washington Mutual Bank, and New Century Financial," Vara writes that an examiner should "investigate the substantial and serious allegations of fraud, dishonesty, incompetence, misconduct, and mismanagement.""Basis for Relief," Vara argues that the law effectively requires an examiner to be appointed in a case if the Trustee requests it and at least one condition is met.
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