2 years ago
The U.S. authorities has appealed a judicial determination that approved the merchantability of Voyager Digital’s assets to Binance.US, according to a filing connected March 9.
Two authorities agencies filed the appeal: the U.S. Attorney’s Office for the Southern District of New York and the Office of the U.S. Trustee.
Though the existent filing does not explicate wherefore those agencies appealed the sale, reports from Reuters suggest that regulators are acrophobic with protecting employees from ineligible claims that mightiness effect from bankruptcy proceedings. They are besides acrophobic astir their ain quality to enforce regulations owed to the judge’s broadly-written approval.
SEC has contested the merchantability too
The justice overseeing the lawsuit approved Voyager’s merchantability plans connected March 7. Prior to that approval, the U.S. Securities and Exchange Commission contested the sale.
Judge Michael Wiles showed hostility towards the SEC owed to the time-consuming quality of its regulatory complaints. As such, it is unclear whether the existent entreaty volition further hold the case, oregon whether the justice volition effort to woody with it quickly.
Regardless of the outcome, Voyager itself indispensable besides see the presumption of the woody and determine whether Binance.US is simply a suitable purchaser for its assets.
The station U.S. authorities appeals Voyager-Binance.US sale appeared archetypal connected CryptoSlate.
English (US) 