Distressed crypto investor ordered to repay $1.9mn taken from failed company

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Financial Times 17h ago

Distressed crypto investor ordered to repay $1.9mn taken from failed company - Financial Times

Quick Summary:

The Delaware court noted that “many of these investments produced outside gains” that could be clawed back by the company he oversaw in receivership.

His firm 117 Partners specialises in brokering bankruptcy claims, a trade that had boomed in the wake of the 2008 financial crisis but had generally gone dormant in recent years.

Even before FTX agreed to pay back creditors so much, Braziel had positioned himself to broker millions of dollars worth of those claims: 117 Partners said on its website that it has brokered more than $300mn in FTX claims.