Policy • March 31, 2023, 5:58AM EDT 
Quick Take
- FTX’s counsel proposed an order for Deltec bank to turn over assets linked to Ryan Salame and Alameda Research as part of bankruptcy proceedings.
- A hearing on the order is set for April 12.
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FTX’s counsel proposed an order for Deltec International Group (DIG), a bank known for its partnership with Tether, to turn over the assets from a promissory note linked to Alameda Research and former FTX executive Ryan Salame.
The motion was entered in the U.S. bankruptcy court for the district of Delaware on April 29.
Salame, who was the co-CEO for FTX Digital Markets, first executed a promissory note that agreed to pay debtor Alameda Research the principal amount of $50 million plus interest. This note was later transferred from an account in Alameda’s name to DIG, according to the filing. Salame is listed as director of Norton Hall and executed and delivered his signature page on the note.
Despite the $50 million promissory note being between Norton Hall and DIG. Norton Hall told the debtors that Salame is not and has never been a director at the company and it did not authorize the DIG Promissory Note.
“The Debtors have been in discussions, and reached agreement, with DIG, Norton Hall and Ryan Salame regarding the repayment of the DIG Promissory Note and the related extinguishment of the DIG Promissory Note and the Salame Promissory Note,” the filing said.
The amount the debtors are expected to receive if the motion is approved is not disclosed. A hearing on the order is set for April 12.
