At present, the Voyager Official Committee of Unsecured Creditors is rushing to finalize and file the liquidation procedures in order to commence the distributions to creditors within the "next few weeks". After filing, a 10-day objection period will start and if no protests emerge, the court will prove the plan. The update about the potential start date comes after the termination of Binance.US's $1 billion bid to acquire the bankrupt crypto lender's assets.
Prior to filing for bankruptcy, Voyager Digital had a tumultuous year of 2021. After LUNA collapsed, Voyager filed for bankruptcy, followed by multiple companies competing to acquire the firm. Ultimately, FTX was selected when formerly Coinbase has also expressed interest.Despite the court approving the deal, it was terminated when FTX itself filed for bankruptcy after widespread illicit activity within the firm was discovered last November. As Voyager makes progress towards winding down its business, it continues to update the public periodically.
Nicholas Howard
- 2023-05-05
Deadline Looming for Voyager Digital's Liquidation
Voyager Digital is asking the court to approve the liquidation procedures that would start the distribution of its assets to creditors within the "next few weeks". After filing the liquidation procedures, a 10-day period for objection to the plan will start.
