John Lee

Dispute resolution lawyer
#crypto #blockchain #smartcontracts
All views expressed here are personal

[John Lee @JohnYHLee]

Exploring ways for non-US @FTX_Official cryptohodlers to recover ahead of other creditors: DM if you would like formal advice/rep #FTX $BTC $ETH https://t.co/iXQSJjYuEw

[John Lee @JohnYHLee]

@FTX_Official @SBF_FTX As predicted certain #FTX creditors are seeking priority claims based on custody/trust/proprietary claims: https://t.co/Gf8X5Mwskg But claims are very fact specific so there are potential conflicts of interest between customers: https://t.co/gIhRPzMJGk

[John Lee @JohnYHLee]

Exploring ways for non-US @FTX_Official cryptohodlers to recover ahead of other creditors: DM if you would like formal advice/rep #FTX $BTC $ETH https://t.co/iXQSJjYuEw

[John Lee @JohnYHLee]

@AFTXcreditor They probably get that but it’s simply not their job to take on market risk. They’re job is to avoid a situation where they don’t sell and everything goes to 0. Then they’ll open themselves up to law suits by creditors.

[John Lee @JohnYHLee]

@Galois_Capital Not if you get back #FTT

[John Lee @JohnYHLee]

@wassielawyer Interesting. I wonder whether you could prejudice any potential proprietary claims by signing up to this as unsecured creditor. BlockFi are already trying to assert their proprietary claim over #Hood shares - not good for #FTX customers

[John Lee @JohnYHLee]

#ftx #SBF Invitations sent to unsecured creditors to form a committee. But certain customers may be secured creditors with priority of claim under FTX Int Ts&Cs. Listen to my podcast pinned to profile or DM

[John Lee @JohnYHLee]

@Galois_Capital Sorry to hear - we might be able to assist you with establishing priority through proprietary claims (getting ahead of unsecured creditors) depending on your circs. DM/email me if you’d like assistance/rep.

[John Lee @JohnYHLee]

@GRDecter Will largely depend on interpretation of the Ts&Cs but potentially also how assets were kept in practice. There’s also then the question of tracing through their various movements within @FTX_Official and third-parties…

[John Lee @JohnYHLee]

@GRDecter Good overview. I would add: 1) there might be different treatment between customer crypto vs fiat; 2) US bankruptcy court might not be the determining forum - https://t.co/5A3r5d0nrl Ts&Cs are governed by English law and so maybe by English courts

[John Lee @JohnYHLee]

@adam_schnider @AlgodTrading @adam_schnider definitely not a hater! Also HIDE has a great list which he will appreciate too…

[John Lee @JohnYHLee]

@fintechfrank Happy to - feel free to DM me

[John Lee @JohnYHLee]

Some thoughts on legal issues re #FTX insolvency https://t.co/iXQSJjYuEw

[John Lee @JohnYHLee]

@newtoncoder @MacroAlf Not great, as GBP is unlikely to be considered trust asset. Different story (potentially) for stablecoins as they are, like BTC etc, a form of property