FTX customers started a class action lawsuit against the firm and its former executives in the US Bankruptcy Court in Delaware on 27 December 2022. The plaintiffs want to act on behalf of over 1 million FTX customers both in the US and abroad to seek a declaration that funds held in FTX US accounts for US customers and in FTX Trading accounts for non-US customers or other traceable customer assets do not belong to FTX in the hope of defeating other secured or general unsecured creditors of the firm to recover the assets. The proposed class also want a declaration by the court that the traceable assets held at Alameda are not its property. Alternatively, they demand the court to recognize that they have a priority right to repayment over other creditors.
Source: https://www.reuters.com
