FTX lawyers object to the $1.53 billion claim made by Three Arrows Capital, requesting the court to dismiss it in full
ChainCatcher news, FTX bankruptcy management lawyers recently objected to the $1.53 billion claim made by Three Arrows Capital (3AC), requesting the court to dismiss it in full.The lawyers stated that 3AC's losses were due to market fluctuations and its own withdrawal of funds, unrelated to FTX. In March of this year, the bankruptcy court had approved 3AC's request to increase the claim amount from $120 million to $1.53 billion. In November 2024, 3AC claimed that FTX sold off $1.5 billion worth of assets two weeks before it initiated liquidation, citing new evidence. However, FTX's lawyers countered that the claim was based on unreasonable premises, inaccurate data, and a disregard for the facts.FTX pointed out that after the collapse of Terra in June 2022, 3AC's account balance fell below $240 million, yet it did not replenish the margin and instead withdrew $18 million in ETH. FTX subsequently liquidated $820 million in assets to avoid a loss of $18 million when the account went bankrupt. 3AC is required to submit a response by July 11, with a hearing scheduled for August 12.