Voyager Digital’s creditors’ committee and Voyager itself have rejected an attempt by defunct cryptocurrency trading firm Alameda Research to recover $446 million in loan repayments made to the lender. Voyager filed for bankruptcy protection in July 2022.
According to court filings, Voyager’s creditors argued that Alameda’s claims should be either subordinated to all other creditor claims on an equal basis, or reclassified as equity. The creditors claimed that Alameda’s actions, which they deemed “inequitable and fraudulent,” cost them $114 million to $122 million.
The creditors have said Alameda made various false statements about its financial stability, including claiming to have a “bottomless sea of ordinary cryptocurrency,” to Voyager and its creditors’ committee. Due to these allegations, Voyager’s creditors’ committee voted in favor of selecting Alameda as the buyer of Voyager’s balance sheet.
Court filings read that if the committee had “known the truth, it never would have allowed the AlamedaFTX [sic] deal.” The creditors added Alameda’s conduct may even constitute a felony.
Voyager itself said that Alameda has caused the debtors and their creditors “substantial harm” as they “made a bid for the Debtors’ business that they could never satisfy” under false pretenses.”
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- Source: https://www.cryptocompare.com/email-updates/daily/2023/feb/02/
