Kleinberg Kaplan’s Dov Kleiner quoted in The Wall Street Journal on FTX’s Efforts to Recoup Charitable Donations

Kleinberg Kaplan partner Dov Kleiner was recently quoted in an article in The Wall Street Journal titled “FTX Seeks to Recoup Sam Bankman-Fried’s Charitable Donations.” The article covers the efforts – and related complexities – of FTX’s new management to “claw back” donations made by Sam Bankman-Fried and other FTX executives, as well as by FTX affiliates, to charities and political campaigns.

In addition to the difficulty of tracking these donations and determining how much of them have already been spent by the recipients, Dov shares, “This case is all about solvency.” The article notes that a “major challenge” is determining when FTX become insolvent or “whether it was ever solvent in the first place.” Depending on the answer, bankruptcy laws may require that funds be returned to FTX.

To read the full article in The Wall Street Journal, please click here. Please note that The Wall Street Journal requires a paid subscription to access their content.