Last updated on August 8, 2023
In court filings, the bankrupt estate of FTX Dubai has put forward the argument that liquidating the company under UAE law would facilitate the timely distribution of any outstanding liabilities. By going through the liquidation process, the estate believes that the assets of FTX Dubai can be efficiently sold off and the proceeds can be used to settle the company’s debts and obligations. This approach would ensure that all parties involved receive their fair share of the remaining assets, bringing a sense of closure to the bankruptcy proceedings. The estate believes that adhering to UAE law in liquidating FTX Dubai is the most practical and effective course of action.
Rewritten and Elaborated Content:
According to recent court filings, the bankrupt estate of FTX Dubai has asserted its view that liquidating the company under the legal framework of the United Arab Emirates (UAE) would be the most advantageous approach. By opting for liquidation, the estate argues that the process would facilitate the efficient and timely distribution of outstanding liabilities. Essentially, this would involve the sale of FTX Dubai’s assets to generate funds that can be used to settle any debts owed by the company. In this manner, all parties involved, including creditors and stakeholders, would have an opportunity to receive their fair portion of the remaining assets. Embracing liquidation under the jurisdiction of UAE law is considered to be the most pragmatic and productive method to reach a resolution in the bankruptcy proceedings.
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– #FTXDubai
– #bankruptestate
– #liquidation
– #UAElaw
– #debts
– #obligations
– #creditors
– #stakeholders
– #bankruptcyproceedings
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