#FTX claimholders from China, Saudi Arabia and other countries have invoked the Celsius bankruptcy case -- well-respected Southern District Bankruptcy Chief Judge Martin Glenn presided -- to derail FTX’s plan to deny distributions for allowed claims in roughly 46 “Restricted Foreign Jurisdictions.” Ahead of next Tuesday’s hearing on the motion, Chinese claimholders pointed out that @CelsiusNetwork paid Chinese creditors’ allowed claims via wire transfer; additionally, many Chinese FTX creditors already use distribution agent Kraken to move money in and out of the country (DN 31447). FTX’s filing asserts the “Restricted Jurisdiction Procedures” are necessary to protect the debtor and ultimately its creditors from penalties if those distributions violate local laws (DN31148). Cherokee's Claims Market is a leading venue for FTX and all other bankruptcy claims #bankruptcy #crypto