Former FTX CEO Sam Bankman-Fried seeks insurance coverage for legal expenses

TL;DR

SBF’s lawyers want to get paidThe move comes after Bankman-Fried was named as a defendant or involved in various criminal, regulatory, civil, and other actions resulting in significant unreimbursed legal fees and other expenses. ”According to Relm, the primary carrier on the directors and officers (D&O), policies mentioned in this motion, reserve its rights to assess coverage and state that Bankman-Fried must seek a modification of the stay either by agreement with the Debtors or through a motion before any payments covered by the policies can be made. reported that Bankman-Fried will likely have to hire a tech expert to monitor his bail condition after it was revealed that he used a VPN to watch the Super Bowl and play League of Legends

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