Nikolas Gierczyk alleged that the hedge fund that bought his FTX claims refused to honor an agreement allowing additional recovery of his funds.
An FTX customer is suing hedge fund Olympus Peak, alleging the firm owes him additional recovery after he sold his claims in the collapsed trading platform.
Nikolas Gierczyk, an FTX user from California, reportedly sued the hedge fund Olympus Peak, claiming the company could gain more than $1 million from their deal. Gierczyk alleges the hedge fund failed to honor a right to further recovery he had negotiated in their agreement.
According to a Bloomberg report, Gierczyk sold his $1.59 million claim against FTX to the hedge fund at a 42% discount, receiving a $930,000 payout. However, with FTX’s reorganization plan approved, customers are now expected to receive 129% to 146% of their claims.
