Voyager and its creditors refuse to repay Alameda and FTX $400 million.

Creditors of bankrupt lender Travel Digitalas well as the company itself, rejected the request of the investment company. Research at Alameda on the repayment of payments over $400 million. on before FTX went bankrupt. These transactions correspond to overdue payments on loans that Sam Bankman-Fried’s investment firm had requested from Voyager before the stock market collapsed last November.

According to court documents filed with the Delaware bankruptcy court, Voyager’s creditors argued that Alameda’s “wrongful and fraudulent conduct” cost the cryptocurrency lender and its creditors between $114 million and $122 million.. Further, based on previous case law, they noted that the court may “reorder the priorities of creditors’ interests and place all or part of the wrongdoer’s claim in an inferior status, in order to achieve a just result”.

According to creditors, Alameda made a series of false claims to Voyager. and its creditors’ committee on the soundness of the investment firmwhich claimed to have a “bottomless sea of ​​ordinary cryptocurrencies”. “If the commission had known the truth, it would never have authorized the deal with Alameda and FTX. »They said, while indicating that the conduct of the firm of Sam Bankman-Fried at the time could constitute a criminal offense.

It should be recalled that, following several months of negotiationVoyager had reached an agreement with the American subsidiary of FTX for it to be bailed out to the tune of 1.4 billion euros. just a month before Sam Bankman-Fried’s company is due to file for bankruptcy. Recently, the American legal system authorized Binance US to buy Voyager’s assets for $1 billion..

For its part, Voyager pointed out that “Alameda has caused significant harm to debtors and their creditors. » because they “made an offer for the debtors’ business which they could never satisfy” under false pretences. ” They delayed debtors’ restructuring efforts by months and imposed millions of dollars in additional and unnecessary fees and costs on those debtors’ estates when the bidding was reopened. »they added.

Voting on the bankruptcy plan will end on February 22, and Voyager is expected to return to court on March 2 to pursue the case.

It should be recalled that the attorneys for FTX and Alameda pointed out that, since outstanding loan payments were made shortly before FTX filed for bankruptcy.they must be able to be recovered and used to repay the company’s debt to its own creditors.

According to representatives of the stock exchange founded by Sam Bankman-Fried, Voyager and other cryptocurrency lending companies were also “knowingly or recklessly” complicit in transferring customer funds to Alameda with “little or no due diligence.”. Voyager’s business model was that of a feeder fund. She solicited retail investors and invested their money with little to no due diligence in cryptocurrency investment funds such as Alameda and Three Capital Arrows“said FTX.

For her part, the former CEO of Alameda Research, Caroline Ellison pleaded guilty to all charges brought by the Department of Justice. Department of Justice and cooperates with the authorities. It also cooperates with the authorities, Sam Bankman-Fried continues to deny allegations of theft and amalgamation of funds. from users of FTX and its affiliates. The bankrupt stock exchange founder, who was recently accused of trying to influence key witnessesThe FTX subsidiary will appear tomorrow after being subpoenaed by the Texas state regulator to answer questions about possible non-compliance with state regulations by the US subsidiary of FTX.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *