FTX Trading's new CEO John J. Ray III, a lawyer tapped to lead the collapsed crypto exchange's restructuring, previously oversaw the $23 billion bankruptcy of energy firm Enron Corp and has a reputation for boosting creditor recoveries.
the company was working with law enforcement and regulators to mitigate the problems and making "every effort" to secure assets.
Ray is no stranger to high-profile restructurings and is perhaps best known for his work on Enron, which filed for bankruptcy in 2001 amid revelations of widespread accounting fraud and corruption. "You’ve got such a meltdown, similar to Enron, sort of a run on the bank," Lichtenstein said. "He had the calm and the gravitas to step into a firestorm."
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