Four major media outlets in the United States – Bloomberg, Dow Jones, The New York Times, and the Financial Times – have filed a new objection to a previous motion seeking to have the identities of non-U.S. FTX customers sealed. The motion was filed by the Official Committee of Unsecured Creditors and FTX on Jan 11.
The new objection, filed on May 3, argues that there is no legal basis to redact customer names pursuant to non-U.S. data privacy laws.
The media giants contend that Section 105 of the Bankruptcy Code does not permit foreign law to override the right of access to information under U.S. constitutional and statutory law.
The media firms argued that “the law of the United States — constitutional and statutory — guarantees the public a strong presumptive right to inspect bankruptcy filings. That right cannot be abrogated by a party’s assertion of legal obligations under foreign law.”
The media outlets have previously argued that the names of FTX’s creditors do not constitute confidential commercial information and that such disclosure would not subject the creditors to undue risk.
