Shelley Chapman, a retired New York bankruptcy judge and senior counsel at Willkie Farr & Gallagher LLP, has been selected as mediator to resolve the $446 million crypto loan dispute between FTX Trading Ltd.’s Alameda subsidiary and Voyager Digital Ltd. The U.S. Bankruptcy Court for the District of Delaware approved Chapman’s appointment and split the costs equally between FTX and Voyager, both of which are currently in bankruptcy.
Shelley Chapman’s Background and Experience
Shelley C. Chapman brings experience and expertise to her role as mediator. She previously served as a judge for the U.S. Bankruptcy Court for the Southern District of New York, Chapman has an understanding of bankruptcy law.
Chapman’s appointment as mediator reflects confidence in her ability to facilitate productive negotiations between FTX and Voyager.
Deadline for FTX Customers to File Bankruptcy Claims
In addition to the appointment of Shelley Chapman as mediator, there is important news for former customers of FTX. Customers now have time until September 29 to file their claims against the bankruptcy estate and participate in the voting on the Chapter 11 plan.
The Bankruptcy Court for the District of Delaware has mandated that each claim clearly identify the type of asset involved (cryptocurrency, fiat or NFT) and be denominated in U.S. dollars. This requirement is intended to streamline the assessment and valuation of claims and to facilitate a fair and efficient resolution for all parties involved.
Crypto industry stakeholders will be closely watching developments in this case as it set precedents for future bankruptcy proceedings involving digital assets. The ultimate goal remains to restore stability and confidence in the industry and ensure a safe and transparent environment for all participants.