Disagreements between bankrupt FTX Trading (US bankrupt) and the liquidators of the Bahamian organization FTX Digital Markets have been largely resolved, according to an announcement on Friday. There has previously been considerable mistrust between the parties involved in the bankruptcy of the cryptocurrency exchange, with the US side making allegations against the Bahamas. For example, it alleged that the Bahamas Securities Commission (the Commission) was involved in the minting of new FTT tokens and the transfer of digital assets after it triggered the liquidation proceedings.

Now, the two parties have agreed to cooperate in the FTX Trading chapter 11 cases in Delaware and the provisional liquidation of FTX Digital Markets in the Bahamas.

This will involve:

• sharing information
• insurance and return of goods
• coordination of lawsuits against third parties
• strategies to maximize the recovery of funds

The parties have also agreed to the sale of real property in the Bahamas, which will be directed by the Bahamian liquidators and supervised by the bankruptcy courts in both Delaware and the Bahamas. In addition, there is an agreement on the procedure to confirm digital assets held in a Fireblocks account under the control of the Bahamas Securities and Exchange Commission.

However, FTX Trading CEO John Ray said: “There are some issues where we don’t have a meeting of minds yet, but we have resolved many of the outstanding issues and have a way forward to resolve the rest.”

The deal still needs to be approved by the US Bankruptcy Court in Delaware and the Supreme Court of the Bahamas.

Fight over Robinhood shares

In other bankruptcy-related news, there is a four-way fight over around $464 million worth of Robinhood ownership shares between FTX Trading, BlockFi, Sam Bankman-Fried and the Justice Department.

The shares are owned by Emergent Fidelity Technology, which is controlled by Sam Bankman-Fried and Gary Wang. The two formally borrowed funds from Alameda to purchase the shares, which they pledged as collateral to crypto lender BlockFi. FTX Trading is trying to block the sale of the shares, but Emergent is not one of the bankrupt group companies.

Therefore, lawyers for BlockFi and Bankman-Fried have opposed it. Meanwhile, on January 4, BlockFi said it learned that the Justice Department had executed a seizure order and taken control of the shares.