Voyager Digital obtained a grand total of $484.35 million in funds from various sources, including its D&O insurance, FTX, and 3AC. This significant financial boost marks an essential step forward in their strategy to repay their debts to creditors following their bankruptcy filing in July 2022.
About half of the $450 million came from FTX’s case, allowing creditors to recoup approximately 25% of their original claims. Additionally, Voyager obtained a creditor claim worth $675 million with an initial distribution of $20.43 million. The D&O mediation resulted in the creditors receiving $14.35 million.
Despite this, Voyager encounters obstacles. They hold approximately 270,000 uncashed checks valued at around $17 million. These checks must be claimed by April 20th. Simultaneously, the financial institution handling their transactions is conducting an investigation into a data breach which exposed third-party creditor information.
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2024-04-12 03:16