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The collapse of ftx - a regulatory and claims perspective

Cryptoassets are traded on a global basis. Indeed, the markets are even more global and constant than markets in more conventional financial instruments, rivalled only perhaps by the FX markets in their reach.

Global, USA, Delaware, Banking, Compliance Management, Insolvency & Restructuring, IT & Data Protection, Collyer Bristow LLP, Corporate governance, Blockchain, Due diligence, Cryptocurrency
Court Order Sending Coverage Dispute To Arbitration Overseas Demonstrates The Potential Consequences Of Purchasing “Bermuda Form” And Other International Coverages

In MF Global Holdings Ltd. et al. v. Allied World Assurance Co. Ltd. et al., No. 1:16-ap-01251 (Bankr. S.D.N.Y. Aug. 24, 2017), the United States Bankruptcy Court for the Southern District of New York ordered MF Global Holdings Ltd. and Allied World Assurance Co. Ltd. to arbitrate their $15 million errors-and-omissions coverage dispute in Hamilton, Bermuda.

USA, Arbitration & ADR, Insolvency & Restructuring, Litigation, Hunton Andrews Kurth LLP, Deposit insurance, Federal Arbitration Act 1926 (USA), United States bankruptcy court