FTX Faces Expanded $1.5B Claim Approval

US Court Allows 3AC to Expand $1.53 Billion Claim Against FTX

• A U.S. bankruptcy court approved Three Arrows Capital’s (3AC) liquidators to expand their claim against FTX to $1.53 billion.
• The ruling was made by Judge John T. Dorsey of the U.S. Bankruptcy Court for the District of Delaware.
• FTX debtors, led by CEO John Ray III, opposed the amendment, citing new legal theories and a significant increase in claim size.
• 3AC had initially filed a $120 million claim in June 2023 before expanding it.
• The court found that FTX had been notified of potential claims from the original filing.

The court ruled that Three Arrows Capital’s liquidators could expand their claim against FTX to $1.53 billion, despite objections from FTX debtors about the amendment’s timing and fairness.