Former FTX Customer Sues Hedge Fund Olympus Peak Over Allegedly Withheld Payments on Bankruptcy Claim

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Cointime2024/10/11 09:48

By:Cointime

Alexander Nikolas Gierczyk, a former customer of FTX, is taking legal action against hedge fund Olympus Peak for allegedly failing to pay him the full amount owed on a bankruptcy claim he sold to them. Gierczyk claims that the firm's claims purchasing desk has not paid him the extra amount he is owed, despite the bankruptcy payout being higher than expected. The lawsuit has been filed in the U.S. District Court Southern District Of New York, and Gierczyk sold the $1.59 million FTX bankruptcy claim at a 42% discount to Olympus Peak Trade Claims Opportunities Fund with an "excess claim provision."

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