Voyager Digital assets auction set for Sept. 13 after being rescheduled from August

Voyager Digital assets auction set for Sept. 13 after being rescheduled from August

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The centralized crypto lender rejected a suggestion from FTX after it filed for Chapter 11 chapter reorganization in July following 3AC’s mortgage default and its money owed topping $1 billion.
Bankrupt centralized crypto lender Voyager Digital filed a discover Tuesday with United States Chapter Courtroom for the Southern District of New York informing the court docket of its intention to carry an public sale of its remaining property. The public sale is proposed to happen on Sept. 13 on the Manhattan workplace of Digital Voyager’s funding banker Moelis & Firm, with a listening to to approve the outcomes on Sept. 29. Provides for the lender’s property which have already been submitted.
Voyagers, we wish to let you understand that a number of bids have been submitted as a part of the corporate’s restructuring course of. Consequently, an public sale is scheduled for September thirteenth. (1/3)
The public sale was initially scheduled for Aug. 29. To ensure that an public sale to be held, a number of events should present curiosity within the acquisition of Voyager Digital’s property. On July 22, FTX made an offer to buy all Voyager Digital property and digital asset loans, except for loans to Three Arrows Capital (3AC). That supply was labeled “lowball” by the lender and rejected inside days.
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Voyager suspended buying and selling, deposits, withdrawals and loyalty rewards on July 1 and introduced July 5 that it was going into Chapter 11 reorganization, a type of chapter, with over $1 billion in money owed. The corporate said clients with cryptocurrency of their accounts would obtain “a mix of the crypto of their account(s), proceeds from the 3AC restoration, frequent shares within the newly reorganized Firm, and Voyager tokens.”
Voyager Digital’s chapter got here days after the corporate issued a default notice and was exploring authorized treatments towards Three Arrows Capital, which owed it 15,250 Bitcoin (BTC) and 350 million USD Coin (USDC). Voyager Digital assured clients then that it could proceed servicing their accounts. It additionally engaged Moelis at the moment.
In August, the court allowed Voyager Digital to pay “key” workers — those the corporate mentioned have been essential to its persevering with operations — bonuses totaling $1.9 million, despite objections from investors. On the time of writing, Voyager Token was promoting at $1.07, up 38.92% in 24 hours.

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