Voyager creditors may receive funds by the next few weeks

Voyager Digital’s former customers may receive their funds back within this month if no parties will file any objection.

Voyager Digital is a bankrupt crypto broker. On 1 July of the last year, the company suspended customer trading, deposits, withdrawals, and loyalty rewards on the platform. On 6 July, the Voyager team filed for bankruptcy under the Chapter 11 code in the U.S. Bankruptcy Court for the Southern District of New York. 

On 5 May 2023, The Voyager Official Committee of Unsecured Creditors (UCC) announced that they are planning to liquidate the Voyager assets and Voyager creditors may receive their funds back in the next few weeks. 

4/ Voyager is also finalizing everything internally that is necessary to make distributions to creditors. We are hopeful that initial distributions will begin within the next few weeks.

— Voyager Official Committee of Unsecured Creditors (@VoyagerUCC) May 4, 2023

However, it is the final decision to exit the bankruptcy for Voyager Digital but if any party will file an objection against this decision then surely Voyager creditors will be required to wait for the next few months or maybe a year. 

Around 10 days ago, Binance’s American independent subsidiary BinanceUS terminated its deal to acquire the Voyager Digital platform citing an unclear regulatory environment under the jurisdiction of the US. 

1/ Around 2 hours ago, https://t.co/5sjac1H4CW purported to terminate the asset purchase agreement with Voyager. The Committee is incredibly disappointed with this decision and is investigating potential claims against https://t.co/5sjac1H4CW.

— Voyager Official Committee of Unsecured Creditors (@VoyagerUCC) April 25, 2023

Before BinanceUS, the FTXUS crypto exchange was on the path to acquire Voyager but FTXUS itself went bankrupt in Nov 2022. After FTX’s bankruptcy, BinanceUS jumped to acquire Voyager.

When BinanceUS stepped back from the Voyager Digital acquisition then many people claimed that other companies might show interest to buy this platform but so far no company came to show interest in Voyager’s assets. 

Now the next 10 days will be very important for Voyager creditors. If the next 10 days will pass without any objection ahead of Voyager’s self-asset liquidation plan then it will result in a better outcome for the creditors. 

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