From FTX chief regulatory officer Daniel Friedberg's objection [1], FTX head of counsel Ryne Miller manipulated the bankruptcy proceedings and channeled its exorbitantly expensive legal work to Sullivan & Cromwell, ostensibly so he can return as a partner after this fiasco is over.
> Mr. Miller told me that the bankruptcy filings of FTX International Group, the Alameda Group, and the FTX.US Group had to be in the United States because otherwise S&C couldn’t do the job. (35, p. 8)
> Mr. Miller stated that he needed to include FTX.US as part of the bankruptcy because FTX.US had the cash to pay S&C its retainer. Without this retainer from FTX.US, S&C wouldn’t file. I told him that it wasn’t proper for FTX.US to pay for the expenses of the bankruptcy of FTX International Group or the Alameda Group.
[1] johnreedstark.com/wp-content/uploads/sites/180/2023/01/FriedbergObjection.pdf