.FTX_Official and the FTX creditors committee have strongly opposed a request by former CEO SBF_FTX to have his legal costs covered by the firm's insurance provider.
, FTX’s lawyers objected to Bankman-Fried’s attempt to prioritize his own legal fees at the expense of other potential claimants, stating:
FTX’s lawyers argue that if the court rules in favor of Bankman-Fried then the insurance payout should apply to other directors and officers who have a claim to the funds.an objection on the same day, noting that D&O insurance policies only apply “where they make honest decisions in the ordinary course of the business,” which it argues “is not the case” regarding Bankman-Fried’s request.
This sentiment has been echoed by some from the crypto community prior to Sam Bankman Fried’s request.
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