The judge presiding over the bankruptcy of cryptocurrency exchange FTX has approved the company’s choice of a law firm representing it in the bankruptcy, despite concerns about potential conflicts of interest, AP reports.
Judge John Dorsey on Friday granted a motion by FTX for the Sullivan & Cromwell law firm to serve as debtor’s counsel.
The ruling came after a Sullivan & Cromwell partner filed additional disclosures this week about the firm’s work for FTX entities and FTX founder Sam Bankman-Fried before the November bankruptcy filings. Those disclosures were made in response to concerns raised by the U.S. Trustee, which serves as a government watchdog in Chapter 11 reorganizations.
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