The chief executive of FTX, a password trading center, rejected a call to replace his law firm as lead lawyer in bankruptcy.

Robert J. Ray III, who was elected as FTX's new chief executive on November 11th, filed a resolution in court on January 17th, arguing that Sullivan Cromwell had demonstrated its indispensable effectiveness in reducing the level of "trash box popularity" handed to it.

Ray proposed that it was in the best interests of FTX creditors to preserve his services, arguing:

"in all kinds of cases, consultants are not villains. In moderate criminal cases, the government has arrested such villains, in large part because they received information and support from Debtors consultants with my help.

On Jan. 14, McGinnis R Vala (Andrew R.Vara), an American client, announced a boycott to preserve the law firm on the grounds of two different problems.

He claimed that Sullivan&Cromwell could not adequately disclose its links to what it had done for FTX. He stressed that, based on the information obtained from the publication, a former partner of the law firm became a FTX lawyer 14 months before declaring bankruptcy.

In addition, James A. Allison (James A.Murphy), a lawyer on Twitter account MetaLawMan, made it clear on Jan. 14 that what the law firm had done for FTX was not the only transfer of interest to the law firm in this case.

He claims that private equity firm Qiangshi Worldwide has been collecting debtors' debts of FTX customers at a fraction of its use value. Allison stressed that Jay Clayton, the boss of Johnson, was also employed by Sullivan&Cromwell, which had access to sensitive accounting information.

The US client also believes that it is also biased to require the preservation of Sullivan&Cromwell applications at this stage, because they will "seize" the work of individual auditors and repeat his services on the premise of giving up FTX property.

The client first called for a separate auditor on December 1st, stressing that part of the company law requires that an auditor be an auditor when some liabilities exceed $5 million.

On January 10th, a bipartisan panel of four American lawmakers wrote to Delaware's failed presiding judge, Robert Dorsey, asking her to approve the hiring of a separate auditor. He also said he could not believe that the law firm could be labeled "asking for nothing in return."

But Dorsey called the letter "incorrect unilateral communication" and said she didn't care much about it when deciding whether to work as a separate auditor or allow Sullivan&Cromwell to be kept.

But Mr Dorsey will take into account a negative opinion from a FTX debtor on January 10 when deciding whether to keep Sullivan&Cromwell, who also stressed that what the law firm had done for FTX had created a transfer of benefits.