PSZJ Secures Court Approval of $165 Million Claims Stipulation for Victims of Junho Bang's Fraud

On August 15, 2026, the U.S. Bankruptcy Court for the District of Delaware approved a stipulation resolving competing interests in more than $160 million in claims originally filed by Mr. Junho Bang, one of the largest customer creditors in the FTX bankruptcy cases. The order builds on the firm’s earlier chapter 15 victories on behalf of Professor Soogeun Oh, the appointed receiver and foreign representative of Mr. Bang in his Korean rehabilitation proceeding, including the bankruptcy court’s recognition of the Korean proceeding as a foreign main proceeding, and its recognition, over objection, of the Korean court’s order deeming Mr. Bang’s alleged transfer of his asserted FTX claims to a related party to be a fraudulent transfer.

Under the approved stipulation, the claims, allowed in the approximate amount of $164.8 million as Class 5A Dotcom customer entitlement claims under the FTX plan, will be held by Professor Oh for the benefit of Mr. Bang’s creditors, who are largely victims of his fraudulent scheme. Mr. Bang, who is serving a ten year sentence in Korea after defrauding his creditors and falsifying reports to conceal losses following FTX’s collapse, will not receive any distribution on account of the claims. The stipulation resolves a multiparty dispute over the funds that had drawn competing claims and marks a critical step toward returning more than $160 million to the victims of Mr. Bang’s crimes through his Korean rehabilitation proceeding.