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Sam Bankman-Fried petitions court to prioritize reimbursing his legal fees

Published 03/15/2023, 05:00 PM
Updated 03/15/2023, 06:40 PM

Sam Bankman-Fried is seeking to use FTX's insurance policies to cover his legal expenses, according to a court filing on March 15.

The former FTX CEO's legal counsel requested in a motion to permit insurers to advance or reimburse his defense costs and fees under directors and officers (D&O) insurance policies held with Relm Insurance and Beazley Insurance. As per the filing, the policies "provides priority of payment to individual insureds with un-indemnified loss like Mr. Bankman-Fried.” Meaning the former CEO would be on top of the FTX payout list.

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