Essentially, if you received money from an FTX entity in the debtor group anytime on or after approximately August 11, 2022, the bankruptcy process will probably ask you, at some point, to pay all or part of that money back.
This seems important. You discuss “transactions,” and when I look up bankruptcy online, it is almost all about business deals that involve an exchange of goods or services between both entities. Am I understanding you correctly that this happens the same for philanthropic donations as it does for business deals?
The relevant definitions under sections 547 and 548 have been given extremely broad interpretations. In fact, 548 has a limited protection for nonprofits in certain fraudulent conveyance matters.
This seems important. You discuss “transactions,” and when I look up bankruptcy online, it is almost all about business deals that involve an exchange of goods or services between both entities. Am I understanding you correctly that this happens the same for philanthropic donations as it does for business deals?
The relevant definitions under sections 547 and 548 have been given extremely broad interpretations. In fact, 548 has a limited protection for nonprofits in certain fraudulent conveyance matters.