The Bahamian regulator plans to reclaim $256 million worth of real estate ownership from FTX

ChainCatcher news, the Bahamian regulator plans to reclaim FTX's $256 million real estate ownership, and Bahamian lawyers are asking a U.S. judge to dismiss the Chapter 11 proceedings against FTX's property subsidiary. The Bahamian lawyers stated that since all properties are in the Bahamas, "Bahamian law does not allow the recognition of foreign bankruptcy proceedings for Bahamian companies."

It is reported that FTX spent $256.3 million on 35 different properties in the Bahamas, including over $25 million on FTX's new headquarters, which broke ground in April 2022 but has been on hold since the exchange filed for bankruptcy in November. (CNBC)