John J. Ray III, FTX’s new CEO, said the goal of the review is to maximize recoverable value for stakeholders.

The group will explore a sale, recapitalization or other strategic transactions for its subsidiaries.

Perella Weinberg Partners LP (PWP) has been designated as the lead investment bank as the group begins preparing certain businesses for sale or reorganization. PWP’s involvement is subject to court approval.

FTX debtors have filed a motion in U.S. Bankruptcy Court for a temporary relief that, if granted, would allow it to launch a new global cash management system and make payments to critical suppliers and vendors in overseas subsidiaries. A hearing is scheduled for Tuesday, Nov. 22.

No specific timeline has been set for completion of this process, and FTX Debtors has appointed Kroll Risk Advisor as its claims agent.