Voyager has been making quite a few headlines lately. This was prompted by Alameda, FTX’s sister firm, after it sued Voyager while seeking $445.8 million. A recent court filing shows that the parties involved had reached a temporary agreement on the $445 million lawsuit.
Veering back to January 2023, Alameda sued Voyager over loan repayments that the firm had made prior to its bankruptcy filing. Alameda was pursuing the lawsuit with the intent to recoup the aforementioned funds. Any further remuneration that may have included legal fees was also requested. Now, dismissing the same, the filings show that Voyager was allowed to hold onto the $445 million in cash. The court document read,
“Voyager OpCo shall reserve and hold the amount of $445,000,000 in cash of U.S. Dollars on account of the Preference Claims asserted by the FTX Debtors4 and their estates against the Voyager Debtors in the FTX Adversary Proceeding.”
However, it should be noted that this was “until the final resolution of the Preference Claims by settlement or a final and unappealable order of the Delaware Bankruptcy Court, including any appeals therefrom.”
Voyager to hold onto an additional $5 million
Along with the $445 million, the court has ordered Voyager to hold another $5 million deposit from FTX. But the firm isn’t allowed to use or distribute it. This was until “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.”
Earlier, Voyager assumed its plan to sell the firm’s assets to Binance U.S. was finalized. This was in light of 97% of the credits voting for the sale. However, the Securities and Exchange Commission has squashed these efforts, citing unlawful action.