{"id":611286,"date":"2023-02-24T03:52:16","date_gmt":"2023-02-24T09:52:16","guid":{"rendered":"https:\/\/news.sellorbuyhomefast.com\/index.php\/2023\/02\/24\/voyager-in-legal-battle-over-445m-loan-repayments-from-alameda\/"},"modified":"2023-02-24T03:52:16","modified_gmt":"2023-02-24T09:52:16","slug":"voyager-in-legal-battle-over-445m-loan-repayments-from-alameda","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2023\/02\/24\/voyager-in-legal-battle-over-445m-loan-repayments-from-alameda\/","title":{"rendered":"Voyager in Legal Battle Over $445M Loan Repayments from Alameda"},"content":{"rendered":"
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At New York Times Dealbook Summit, Sam Bankman-Fried opens up about FTX and alameda research<\/figcaption><\/figure>\n<\/div>\n
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Bankrupt crypto lender Voyager and bankrupt crypto exchange FTX<\/a> have reached an interim agreement on $445 million of disputed loan payments, according to filings from Wednesday. Alameda Research, the trading arm of FTX, filed a suit<\/a> in January to claw back some loan repayments made to Voyager before its own bankruptcy filing. Under the deal, Voyager<\/a> will keep hold of the disputed funds pending resolution by court order or a final settlement.<\/p>\n

FTX Seeks No Less Than $445.8 Million<\/h2>\n

In the January filing, Alameda requested that a court award it \u201cno less than $445.8 million (plus the value of any additional avoidable transfers Plaintiff learns,\u201d and any additional fees incurred. The Voyager estate will also continue to hold another $5 million deposit from FTX without use or distribution \u201cuntil ownership of that deposit is litigated in the New York Bankruptcy Court and decided by settlement or a final and unappealable order, including any appeals therefrom,\u201d Wednesday\u2019s filing said.<\/p>\n

Voyager\u2019s Plan<\/strong><\/h2>\n

During the Wednesday court hearing, lawyers for Voyager said a plan to sell the bankrupt lender\u2019s assets to Binance\u2019s U.S. arm was underway, with 97% of creditors voting in favor of the sale. The deal is valued at $1.02 billion and would involve Binance.US acquiring Voyager\u2019s assets. However, the deal has been met with opposition from regulators, including the Securities and Exchange Commission and New York\u2019s Department of Financial Services, who have filed objections to the deal.<\/p>\n

FTX\u2019s Bankruptcy Proceedings Continue<\/strong><\/h2>\n

FTX\u2019s own bankruptcy proceedings are continuing at a Delaware court. The company filed for bankruptcy in November 2021 after it was forced to liquidate a portfolio of insolvent assets in the wake of China\u2019s crackdown on the crypto industry. FTX is seeking to reorganize its debt under Chapter 11 of the U.S. Bankruptcy Code.<\/p>\n

Interim Agreement Provides Breathing Room for Voyager and FTX<\/strong><\/h2>\n

The interim agreement provides breathing room for both Voyager and FTX as they continue to navigate their respective bankruptcies. It also highlights the complexities of dealing with loan repayments and ownership disputes in the unregulated crypto industry. The outcome of both bankruptcies remains uncertain, and it is unclear when or if creditors will be fully repaid.<\/p>\n<\/div>\n

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Qadir AK<\/a><\/h3>\n

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.<\/p>\n<\/div>\n<\/div>\n<\/div>\n

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\n Qadir AK<\/p>\n","protected":false},"excerpt":{"rendered":"

At New York Times Dealbook Summit, Sam Bankman-Fried opens up about FTX and alameda researchBankrupt crypto lender Voyager and bankrupt crypto exchange FTX have reached an interim agreement on $445 million of disputed loan payments, according to filings from Wednesday. Alameda Research, the trading arm of FTX, filed a suit in January to claw back<\/p>\n","protected":false},"author":1,"featured_media":611287,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22587,22929],"tags":[],"class_list":{"0":"post-611286","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-legal","8":"category-voyager"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/611286","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=611286"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/611286\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/611287"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=611286"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=611286"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=611286"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}