Bloomberg Law
Nov. 11, 2022, 4:29 PM

Enron’s Liquidator to Oversee FTX’s Massive Crypto Bankruptcy

Jeremy Hill
Jeremy Hill
Bloomberg News

When Sam Bankman-Fried’s empire collapsed into bankruptcy on Friday, the onetime crypto wunderkind handed the reins to the man who oversaw the unwinding of Enron Corp.

John J. Ray III is now the Chief Executive Officer of FTX Trading Ltd. and a host of related entities, court papers show. Ray, a restructuring expert, oversaw the liquidation of Enron Corp. and weighty settlements that followed its accounting scandal.

At Enron, Ray captained the return of more than $20 billion to creditors in the years following the energy company’s bankruptcy, according to a statement in 2008. Creditor recoveries surpassed 50 ...