On Nov. 14, 2022, the Securities Commission of the Bahamas (SCB) published a press release that explains the ‘Big Four’ accounting firm PWC (Pricewaterhousecoopers) has been designated as provisional liquidator in the FTX investigation. The SCB detailed that “given the magnitude” of the events surrounding FTX, the Bahamas regulator recognized that it had to “move swiftly.”
‘Big Four’ Auditing Company PWC Appointed to Provisional Liquidator Status in the FTX Investigation
According to a press release published by the SCB on Monday, Kevin Cambridge and Peter Greaves from the ‘Big Four’ accounting firm PwC were approved by the court as joint provisional liquidators. Essentially, provisional liquidators, unlike conventional liquidators, do not distribute funds as they are appointed to safeguard the bankrupt company’s remaining assets.