Davis Polk head of International Restructuring Tim Graulich was quoted in the Wall Street Journal discussing crypto restructurings and how they differ from most chapter 11 cases.

When asked about FTX’s bankruptcy, Tim noted, “The sheer fact that we are talking about this case a year later is different from what we’ve been seeing in the bankruptcy landscape.”

He also explained that businesses often seek chapter 11 protection with prepackaged restructuring agreements and hope to reorganize quickly. “It is really only free fall cases that last this long,” he said.  

FTX Marks a Year in Bankruptcy. What We’ve Learned From Crypto Restructurings,” Wall Street Journal (November 13, 2023) (subscription required)