2 years ago
Customers volition soon beryllium capable to load up the Voyager app and spot however overmuch volition beryllium disposable for withdrawal.
Cryptocurrency brokerage Voyager Digital is preparing to reopen its app and let customers to yet retreat their funds — astir 1 twelvemonth aft it filed for Chapter 11 bankruptcy.
Voyager's bankruptcy program head Paul Hage said successful a June 14 tribunal filing that astir June 15 the Voyager app would beryllium updated to amusement the magnitude disposable for withdrawal, and estimated that the withdrawal play would commencement determination betwixt June 20 and July 5.
The bankruptcy program was archetypal approved successful tribunal connected May 17 and volition effect successful customers initially receiving 35.72% of their claims by withdrawing crypto done the Voyager app oregon successful currency aft 30 days.
Voyager Court adjourned for the day
Fee examiners findings approved by the judge
App volition travel backmost online connected oregon astir 15 June
Estimated model for withdrawals opening 20 June to 5 July
30 days to retreat erstwhile model opens
all creditors volition person 35.72 initial…
Within the filing, Hage besides noted that bankrupt crypto hedge money Three Arrows Capital inactive owes Voyager $650 million, truthful portion this archetypal tranche of withdrawals allows for conscionable implicit 35% of lawsuit funds to beryllium withdrawn “the superior absorption volition displacement to recovering further assets that tin beryllium distributed to creditors” erstwhile the archetypal organisation is completed.
Additionally, an other $445 cardinal of lawsuit funds could besides beryllium made disposable to creditors pending a last solution of Alameda Research’s penchant assertion against Voyager, which is not expected to hap until astatine slightest mid-September 2023.
— EthDaddy ☠️ (@ETHjuiced) June 14, 2023After primitively filing for bankruptcy connected July 5, Voyager had submitted 2 anterior bankruptcy program proposals but some had fallen through.
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The archetypal of these was to the United States limb of FTX, FTX.US, but the $1.4 cardinal woody fell done aft FTX filed for bankruptcy.
Subsequently a $1 cardinal woody with Binance.US besides fell through aft it backed retired connected April 25, citing a “hostile and uncertain regulatory clime successful the United States.”
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English (US) 