- The court approved the petition for the liquidation of the company
- It could start tomorrow
- And the Creditors’ Committee will be dissolved
In NYC took place another hearing in the Voyager case. On it, the court approved the procedure for the liquidation of the company. This means that the platform can start this process from May 19th. And customers will be able to receive compensation from June 1.
The news was commented by the Committee of Unsecured Creditors Voyager:
“We are working with Voyager to go into effect as soon as possible (as early as this Friday) as planned”
After the start of the liquidation procedure, the Committee will be dissolved. The payment process will be managed by the Plan Administrator.
Bankrupt crypto lender Voyager Digital until recently harbored hopes of selling assets to Binance. This would help him to keep the activity. In this case, customers would receive a higher percentage of reimbursement. However, such a deal was hindered by US regulators. In the end, the crypto exchange refused to buy.
As a result, Voyager will completely cease operations and liquidate its assets. Clients will receive approximately 36% of their funds. Owners of supported assets (Bitcoin, Ethereum, etc.) will be able to withdraw funds directly from the platform. People who held unsupported assets (like SOL) will be compensated in the form of a fiat transfer.
Voyager’s creditors could recover more assets (up to 64%) if the company wins a lawsuit with Alameda Research.