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BlockFi Looks to Dismiss Bankruptcy Case for SBF’s Robinhood Shell Company

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Crypto lender BlockFi moved to strike the bankruptcy case of the Emergent Fidelity, a shell company owned by SBF which houses nearly $600 million worth of RobinhoodApp shares. jackschickler reports.

Board itself– and BlockFi believes Emergent’s Antiguan liquidators are making it even more complex by filing for Chapter 11 bankruptcy in the U.S.

“Neither law nor equity require the doing of a futile act. But this bankruptcy case asks the Court to do just that—to ‘reorganize’ an empty shell,”The bankruptcy filing, made Feb. 3, was not made in good faith; the company isn’t eligible, having no employees, no income and no business; and the case exists “solely” to advance the interests of Antiguan liquidators who’ve already gained over $1.7 million in fees, BlockFi said.

BlockFi has taken legal action to secure access to the stocks, which it says were security for a loan made Nov. 9. The Department of Justice seized the assets in January, as it investigates fraud charges against Sam Bankman-Fried and Gary Wang, who owns the remaining 10% of Emergent. Bankman-Fried has

 

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It's great to see BlockFi taking action to protect their clients and ensure fair business practices. CommittedToClients

BlockFi RobinhoodApp jackschickler Hey coindesk As you know one of your reporter (mrs sandalih) published an article about BRIDGE ORACLE several months ago about swap process from tron platform in to the BSC platform We should inform you that published article,had a terrible mistakes about reality unfortunately!

BlockFi RobinhoodApp jackschickler Hey coindesk As you know one of your reporter (mrs sandalih) published an article about BRIDGE ORACLE several months ago about swap process from tron platform in to the BSC platform We should inform you that published article,had a terrible mistakes about reality unfortunately!

BlockFi RobinhoodApp jackschickler When SBF_FTX story ends? It took so much time in Crypto ..

BlockFi RobinhoodApp jackschickler The current economic climate which should be brighter to be just around the corner.

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