by Pam Martens and Russ Martens at Wall Street on Parade
Just four days before Sam Bankman-Fried’s crypto exchange, FTX, collapsed into bankruptcy, Sullivan & Cromwell law partner Andrew (Andy) Dietderich sent an email to an attorney representing Voyager Digital’s Official Committee of Unsecured Creditors in its bankruptcy proceedings, stating that FTX was “rock solid.” At the time, Sullivan & Cromwell was representing FTX in a very aggressive move to purchase $1 billion of Voyager’s crypto assets.
The law partner representing the Voyager creditors was Darren Azman of law firm McDermott Will & Emery. The email exchange on November 7, 2022 went as follows, according to exhibits McDermott Will & Emery submitted to the Voyager bankruptcy court in the Southern District of New York last week:
Azman: “We are getting a lot of inbounds regarding liquidity issues at FTX/Alameda. We also had a lot of leftover questions from the last town hall. I’m thinking we’d like to do another one next week and would like you for your team to be a part of it. We can’t be silent on these issues and I don’t want to speak for FTX. Let me know your thoughts on timing and who on your side would be best to join and handle FTX-related questions.”
Dietderich of Sullivan & Cromwell responded the same day as follows:…
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