According to BlockBeats news, on October 9, FTX has submitted a motion seeking approval of a settlement agreement with former Alameda Research head Caroline Ellison, which will allow her to hand over “substantially all remaining assets.”
The motion, filed on Oct. 7, asks the court to authorize a settlement agreement with Ellison. Under the agreement, Ellison agreed to transfer to FTX creditors any of her assets that were not seized by the government in the criminal case or used to pay legal fees.
The motion states that once she fulfills the terms of the agreement, “Ellison will no longer own any assets other than certain personal physical property,” but does not specify the value of the assets she will give up.
She also agreed to cooperate with the investigation and litigation of the bankrupt crypto exchange, which may include sharing documents or information obtained during her time as the former head of FTX sister company and the ex-girlfriend of Sam Bankman-Fried.
FTX believes this settlement is as beneficial as continuing to pursue Ellison’s assets in a separate lawsuit because it covers substantially all of the assets they might recover, while her additional cooperation provides significant value.
A hearing on the proposed settlement is scheduled for Nov. 20. (Cointelegraph)
