The creditors of Voyager Digital will be able to count on a 36% return of the value of assets, according to the crypto broker's statement to the court.
This value is actually half of the 72-73% that was assumed in the deal with FTX or Binance.US. Last April 25, 2023, the latter withdrew the application, citing a "hostile and uncertain regulatory climate in the US."
Last May 4, Voyager Digital announced preparations for liquidation and payments to creditors "within a few weeks." Payments are planned in fiat and digital assets.
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According to the court document, the recovery rate could increase from 36% if Alameda Research fails to recover $445 million of the cryptocurrency broker's assets.
Voyager's lawyers have also set aside $259.6 million for legal fees, administrative claims and other "retainage."
The transition to liquidation is provided for in the restructuring plan approved by the Bankruptcy Court. The parties will have ten days to protest the respective petition after it is filed.