2 years ago
Voyager announced connected March 1 that 97% of its customers person voted successful favour of its bankruptcy plan, which includes selling its assets to Binance.US.
The 97% of voters successful favour correspond astir 98% of the full claims — equating to astir $541.61 million.
Voyager said further details would beryllium revealed pursuing its upcoming tribunal proceeding connected March 2.
Voyager said successful December 2022 that aft considering each options, it has concluded that Binance.US is the highest and champion bidder for its assets.
However, the U.S. SEC and regulators from New Jersey and Texas reason the company’s program to merchantability its remaining assets to Binance.US to marque creditors whole, according to Feb. 24 court filings.
The regulators objected that Voyager owes Alameda a ample indebtedness which would negate astir of the proceeds from selling its assets to Binance.US. Additionally, regulators are acrophobic that taking implicit Voyager’s assets volition springiness Binance a foothold successful the U.S. marketplace without due licensing.
The regulators besides argued that Binance.US’ presumption of usage let it to transportation personally delicate information to entities extracurricular the U.S. According to the filing:
“So, nether these ToUs, customers’ accusation tin beryllium transferred to astir immoderate institution oregon idiosyncratic that Binance.us desires, and, if immoderate issues originate successful the customers’ entree to oregon usage of Binance.us’s Services, the customers person perfectly nary close to situation the issue.”
The Texas watchdog besides argued that the woody was “unfair” to Texas residents arsenic the authorities is not portion of Binance.US’s jurisdiction. As such, Voyager would beryllium obligated to clasp Texans’ assets for astatine slightest six months nether the sale.
Meanwhile, the FTC has objected to the company’s bankruptcy program due to the fact that it would assistance it dodge accountability for “actual fraud, willful misconduct, oregon gross negligence.”
The regulator said that if the program is approved, it would nary longer beryllium capable to instrumentality ineligible enactment oregon contented fines against Voyager oregon its erstwhile employees.
The station Voyager customers ballot successful favour of bankruptcy plan appeared archetypal connected CryptoSlate.
English (US) 