Creditorii Voyager vor primi 35% din creanțe în noul plan de lichidare: Raport

Bankrupt crypto lender Voyager Digital will pay out $1.33 billion worth of crypto assets to customers with funds stuck on the platform.

After 10 months and two failed buyouts, Voyager has finally concluded its efforts to reorganize under Chapter 11.

In an announcement on Wednesday, Voyager’s official committee of unsecured creditors (UCC) revealed that the court had approved liquidation procedures, clearing the way for the firm to distribute funds to its creditors.

2/ After the plan becomes effective, the Committee will be dissolved and the Plan Administrator will take control of the Wind Down Debtor.

— Comitetul oficial al creditorilor negarantați Voyager (@VoyagerUCC) 17 Mai, 2023

Funds will be made available to creditors no later than June 1, said the UCC. According to a raportează din Reuters, the firm will pay out $1.33 billion worth of crypto, but creditors will be entitled to receive just 35% of the value of their claims.

The approved restructuring plan comes after two failed asset buyout deals over the last few months. Under the terms of the first deal, the now-defunct crypto exchange FTX was set to acquire Voyager’s assets after winning an auction with the highest bid of $1.4 billion. At the time, Voyager hinted at potentially transitioning its customers to FTX’s U.S. subsidiary. The deal inevitably fell through when FTX filed for Chapter 11 bankruptcy less than two months later.

In December, Binance.US won a second bidding process to acquire Voyager’s assets for $1.02 billion. After several ups and downs with autoritățile de reglementare, the U.S. government finally aprobat the deal in April. However, this turned out to be a short-lived victory for Voyager and its stakeholders after Binance retras of the deal that same week, citing an “uncertain regulatory climate” in the U.S.

After the failed acquisitions, Voyager decided to opt for a direct distribution of assets to creditors. The UCC a spus earlier this month that it was hopeful initial distributions would begin in the next few weeks.

Still, many of the firm’s creditors were left unsatisfied with the results of the proceedings and took issue with the funds used up by the bankruptcy estate to secure an asset sale that never ended up taking place.

$23,955,262.04 of our dollars have been wasted by @VoyagerUCC up until 02/28/2023, with @FTConsulting și @McDermottLaw in the lead. This money would be coming back to us had they not been incompetent at the one job they had: to sell @investvoyager. pic.twitter.com/nzJNHteyfH

— The Subject Matter (@JZavaduk) 15 Mai, 2023