Voyager Digital Creditors Deny Alameda’s Request For $446 Million

Key Points: According to court documents, both the creditors’ committee as well as Voyager Digital have rejected the attempt by Alameda Research, a defunct cryptocurrency trading firm, to recover $446 Million it owes in loan repayments to Voyager Digital.
Voyager and its creditors’ panel were repeatedly misled by Alameda about its financial standing. It claimed that it had a “bottomless ocean of conventional cryptocurrencies” at one point.
Voyager Digital and the creditors’ committee rejected an attempt by Alameda Research, a defunct cryptocurrency trading firm, to recover $446m in loan repayments to Voyager Digital. According to court documents, the creditors cited existing case law that the court may “rearrange the priorities of creditors’ interests and to place all or part of a wrongdoer’s claim in an inferior status, in order to reach a just conclusion.” According to creditors, Alameda repeatedly misrepresented the financial status of the company to Voyager and its creditors’ committee. At one point, it claimed to have a “bottomless sea of conventional cryptocurrencies.”According to court documents, it was because of these assertions that Voyager’s creditors committee narrowly approved Alameda as the buyer of Voyager’s balance sheet.According to the documents:
“Had the committee understood all the facts, it would never have approved the AlamedaFTX arrangement.” The creditors continued by stating that Alameda’s actions could possibly be considered felonious.
Voyager claims that Alameda has “substantially harmed Debtors and their creditors” because they “made an offer for the Debtors’ [estates], setting the Debtors’ restructuring efforts back months,” according the Voyager statement. We encourage you to do your research before investing.Join us to keep track of news: coincu.comAnnieCoincu NewsTags: AlamedaAlameda ResearchVoyager DigitalVoyager’s creditors