<div class="textg" style="text-align: justify; font-weight: lighter; line-height: 1.3em; font-size: 15px; border-radius: 3px; color: #80909a; padding: 10px; background-color: #F4F6F9; margin-bottom: 15px;">
 Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our&nbsp;<a href="https://tokenist.com/terms-of-service/" style="text-decoration:underline;color:#3c7b7b" target="_blank" rel="noreferrer noopener" class="deco-link">website policy</a>&nbsp;prior to making financial decisions.
</div> 
<p class="has-drop-cap">On Thursday, May 4th, the Voyager Official Committee of Unsecured Creditors <a aria-label="announced  (opens in a new tab)" href="https://twitter.com/VoyagerUCC/status/1654203057591267329" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">announced</a> on Twitter it is working with the bankrupt company to finalize the liquidation procedures. The UCC hopes that the firm will start making initial distributions to creditors “in the next few weeks”. The update comes less than two weeks after Binance.US gave up on its $1 billion acquisition of Voyager.</p> 
<h3 id="voyager-working-with-ucc-to-finalize-liquidation-procedures">Voyager Working With UCC to Finalize Liquidation Procedures</h3> 
<p>This Thursday, the Voyager Official Committee of Unsecured Creditors stated it is working closely with the bankrupt cryptocurrency lender to finalize the liquidation procedures as quickly as possible. The UCC is hoping it will be able to start making distributions to creditors “in the next few weeks”.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
   <p lang="en" dir="ltr">1/ Voyager and the UCC are in the process of finalizing Liquidation Procedures. As a reminder, the Liquidation Procedures must be filed before the Plan can go effective.</p>— Voyager Official Committee of Unsecured Creditors (@VoyagerUCC) <a href="https://twitter.com/VoyagerUCC/status/1654203057591267329?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">May 4, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>The Committee, however, also warned that after the procedures are filled, there will be a 10-day objection period. If objections to the plan emerge, the matter will go to a hearing where the court will weigh the arguments. If there are none, Voyager is planning to move quickly with its plan.</p> 
<p>The post comes less than two weeks after Binance.US decided to pull out of its agreement to acquire Voyager Digital. At the time, the bankrupt company <a href="https://twitter.com/VoyagerUCC/status/1650923725116547079" target="_blank" aria-label=" (opens in a new tab)" rel="noreferrer noopener nofollow" class="deco-link">stated</a> it will continue providing updates as quickly as possible. A later update on Thursday also stated that the procedures will <a href="https://twitter.com/VoyagerUCC/status/1654228955967225856" target="_blank" aria-label=" (opens in a new tab)" rel="noreferrer noopener nofollow" class="deco-link">likely be filed as soon as Friday</a>, May 5th.</p> 
<div class="cta-referral"> 
 <img src="https://tokenist.com/wp-content/themes/thetokenist/assets/img/del/cta-referral-1.png" alt="" class="cta-referral__img" loading="lazy" decoding="async"> 
 <div class="cta-referral__text"> 
  <p>Join our&nbsp;<a href="https://t.me/thetokenist" target="_blank" rel="noreferrer noopener nofollow">Telegram group</a>&nbsp;and never miss a breaking digital asset story.</p> 
 </div> 
</div> 
<h3 id="voyager-s-rocky-bankruptcy">Voyager’s Rocky Bankruptcy</h3> 
<p>Ever since it filed for bankruptcy in the summer of 2022 in the wake of <a href="https://tokenist.com/luna-drops-50-in-a-day-as-ust-peg-fails/" rel="dofollow" class="deco-link">the LUNA collapse</a>, Voyager Digital has been struggling with its liquidation. Its fortunes appeared to have turned last August after it was reported that multiple companies were interested in acquiring its assets.</p> 
<p>About a month later, it was revealed that Coinbase and FTX were the most serious bidders before the latter company ultimately entered into an agreement to acquire Voyager’s assets. While the <a href="https://tokenist.com/judge-approves-ftx-bid-to-buy-voyager-and-return-70-of-assets-to-creditors/" rel="dofollow" class="deco-link">court approved the deal</a> in October, it ultimately failed as Sam Bankman-Fried’s company itself filed for bankruptcy in November after widespread illicit activity within the firm was uncovered.</p> 
<p>Even before getting terminated, Binance.US’s $1 billion bid was plagued by setbacks. From the very beginning, US watchdogs were opposed often citing insufficient clarity surrounding the agreement. The pressure ultimately caused Binance’s American subsidiary <a href="https://tokenist.com/binance-us-gives-up-on-1b-voyager-acquisition/" rel="dofollow" class="deco-link">to give up on the acquisition</a> citing regulatory uncertainty.</p> 
<div class="cta-sub js__cta-sub"> 
 <div class="cta-sub__start" data-step="1"> 
  <div class="cta-sub__title">
   <strong>Finance is changing.</strong>
  </div> 
  <div class="cta-sub__subtitle">
   Learn how, with Five Minute Finance.
  </div> 
  <div class="cta-sub__excerpt">
   A weekly newsletter that covers the big trends in FinTech and Decentralized Finance.
  </div> <button type="button" class="btn">Try it out (for free)</button> 
 </div> 
 <div class="cta-sub__form" data-step="2" style="display: none;"> 
  <script type="text/javascript" src="https://app.getresponse.com/view_webform_v2.js?u=QcLhh&amp;webforms_id=zw3Wv"></script> 
 </div> 
 <div class="cta-sub__result" data-step="3" style="display: none;"> 
  <div class="cta-sub__title">
   Awesome
  </div> 
  <div class="cta-sub__caption">
   You’ve subscribed.
  </div> 
  <div class="cta-sub__greeting">
   You’re well on your way to being in the know.
  </div> 
 </div> 
</div> 
<p><strong><em>Do you think Voyager will finally be able to finalize its liquidation? Let us know in the comments below.</em></strong></p> 
<p>The post <a rel="nofollow" href="https://tokenist.com/voyager-hopes-to-start-distributions-to-creditors-in-the-next-few-weeks/">Voyager Hopes to Start Distributions to Creditors In the “Next Few Weeks”</a> appeared first on <a rel="nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Voyager Hopes to Start Distributions to Creditors In the “Next Few Weeks”

Table of Contents

Tokenist

Other articles published on May 4, 2023

Western Alliance Denies It’s Looking for Buyers, Calls FT Report “Shameful”

The Rise of ASICs: A Game-Changing Technology Reshaping the Future of AI Processing

CryptoSlate wMarket Update: Crypto market recovers this week’s losses

WSB token trader makes $240,000 in two days despite alleged rug pull

The Oracle's Verse: A Collaborative NFT Story

DECENOMY launches Masternode Multinode Script - easy handling of masternodes for everyone !

Join our free newsletter for daily crypto updates!