TechFlow news — FTX's bankruptcy lawyers have filed a document with the U.S. Bankruptcy Court in Delaware, seeking to recover $323 million from senior executives of FTX Europe. According to the filing, approximately $323.5 million was previously paid by SBF and FTX to acquire the Swiss company DAAG, which was later renamed FTX Europe. However, the lawyers claim the company had limited operations and no intellectual property beyond a business plan.
The lawyers also allege that when FTX Europe’s leadership acquired K-DNA, an entity holding operating licenses for the European Economic Area that was subsequently merged into FTX Europe, they received nearly $100 million in excessive payments. While the actual cost of the transaction was only 2 million euros, the total transaction amount exceeded $376 million, including $52.5 million in outstanding debt.
