BlockBeats News, October 4th, SBF stated in an interview published on Friday in the news media Mother Jones that his “biggest mistake” during the $8 billion bankruptcy was handing over company control to a new management team — a decision he claims cost him the opportunity to save the company at the last minute.
SBF said that minutes after signing the control transfer agreement, he received a phone call stating that potential external investment could have saved the company from bankruptcy, but by then, “it was already too late to reverse the signature.”
Reportedly, two days before FTX filed for bankruptcy protection on November 9th, Sullivan & Cromwell (S&C) law firm lawyer Andrew Dietderich sent an email to SBF proposing a plan to hire Ray as the Chief Restructuring Officer. After being appointed as the new CEO, Ray filed for Chapter 11 bankruptcy on November 11, 2022, and retained S&C to provide legal assistance during the litigation process. (Cointelegraph)
