Law firm Eversheds Sutherland has filed a bankruptcy court request to freeze assets previously frozen in the accounts of foreign clients of the bankrupt FTX exchange.

Eversheds Sutherland requires the US judiciary to protect the interests of foreign FTX users and proposes to separate the funds due to them from the general bankruptcy estate. According to preliminary data, about $2 billion is the share of clients outside the USA.

“The FTX bankruptcy case is now in its fourth month. However, the legally important issue of who and to what extent owns assets on the FTX.com exchange has not yet been resolved, ”said a representative of Eversheds Sutherland.

In their appeal to the court, lawyers express concern that the funds of their clients may be unreasonably used to cover significant transaction costs associated with clerical work and legal costs.

According to documents available to Eversheds Sutherland, various legal and financial advisors to the FTX bankruptcy liquidation panel have already issued invoices of approximately $20 million for work completed in 2022.

Earlier, the interim administration of FTX sued FTX Digital Markets and its Bahamian liquidators, alleging that they wrongfully claim the assets of the cryptocurrency exchange.