According to Bahamian lawyers, the now bankrupt cryptocurrency exchange FTX spent $256.3 million to purchase 35 properties in the Bahamas by executives Sam Bankman-Fried and Ryan Salame.

Regulators in the Bahamas are looking to to reclaim property purchased by FTX within the U.S. bankruptcy protection proceedings. Lawyers told a Delaware federal judge that adjudicating properties in the Bahamas in a U.S. court would not be effective and illegal under Bahamian law.

The claim made by Bahamian lawyers is the first time the public has seen just how much FTX was spending on real estate and how many millions were being spent on the CEO’s island home.

FTX’s holding company bought many properties and a vacant lot totaling more than $143 million and in April they began building a new headquarters which has since stalled after they announced bankruptcy in November.

Bahamian regulators are beginning to file motions to seize assets held by FTX in U.S. proceedings. The lawyers main argument is because all property held by FTX is located in the Bahamas, the U.S. should suspend proceedings because “Bahamian law does not allow recognition of a foreign insolvency proceeding for a Bahamian company,” which would allow regulators to control the assets.

U.S. attorneys are likely to fight against these motions by Bahamian regulators as they have stated publicly their desire to maximize the recovery for FTX clients who lost millions in assets.  Each side is claiming a right to the assets citing a jurisdiction justification.

Founder of FTX, Sam Bankman-Fried has recently been arrested, denied bail and sits in a Bahamian jail awaiting extradition to the U.S. for the many charges filed against him.