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Bankrupt firm Voyager Digital has announced that it has successfully recovered $484.35 million from <a href="https://crypto.news/tag/ftx" rel="">FTX</a>, Three Arrows Capital (<a href="https://crypto.news/tag/three-arrows-capital/" rel="">3AC</a>), and Directors and Officers (D&amp;O) insurance settlements. 
The&nbsp;<a target="_blank" href="https://f16c0eccd54007287fb794f9a3d05f2a.cdn.bubble.io/f1712757720074x492073360255491700/1660.pdf" rel="">announcement</a>&nbsp;on April 10 was part of a comprehensive status update to the United States Bankruptcy Court for the Southern District of New York regarding the recovery and distribution of assets to creditors after the company’s financial downturn. 
The report specified that a significant portion of the recovered funds, approximately $450 million, will be sourced from the settlement with FTX. This amount, which includes interest, is said to represent about 25% of the original claims made by Voyager creditors. The company expects to distribute this in an upcoming round. 
Additionally, in the ongoing proceedings with Three Arrows Capital, Voyager has secured a claim of roughly $675 million. From this, Voyager’s pro rata share of the initial distribution amounts to $20.43 million. 
The plan administrator anticipates more payments over the coming years as assets are liquidated and litigation recoveries are achieved. 
A settlement in the D&amp;O insurance mediation will also contribute at least $14.35 million to Voyager creditors, marking another effort to remedy the financial distress caused to the company’s stakeholders. 
Voyager’s report went on to address logistical challenges, including around 270,000 uncashed checks totaling $17 million. 
A significant portion of these checks, around 187,000, are for amounts less than $25. 
The company has announced an April 20, 2024, deadline, after which all outstanding checks will be considered unclaimed and canceled. 
 You might also like: <a href="https://crypto.news/investors-sue-nba-over-ties-with-voyager-following-4-2b-loss/" rel=""> Investors sue NBA over ties with Voyager following $4.2b loss </a> 
The firm is also navigating the aftermath of a data breach, with investigations ongoing to ascertain the breach’s source and full impact. 
The breach compromised creditor information, adding another layer of complexity to the bankruptcy proceedings. 
Voyager initially sought Chapter 11 bankruptcy protection in July 2022 amidst the wider crypto credit crisis, affecting numerous lenders and brokers. 
The United States Bankruptcy Court for the Southern District of New York approved Voyager’s bankruptcy proposal on May 17, 2023, following crypto exchange Binance.US’s <a href="https://crypto.news/binance-us-cancels-1b-purchase-of-voyager/" rel="">withdrawal of their intention</a> to purchase $1 billion in assets from Voyager on April 25. 
In October 2023, Stephen Ehrlich, co-founder of Voyager Digital,<a href="https://crypto.news/cftc-files-legal-action-against-voyager-digital-and-its-ex-ceo/" rel=""> faced charges</a> from the Commodity Futures Trading Commission (CFTC) for alleged fraud and failure to register with the agency. 
The CFTC accused Ehrlich and Voyager of misleading clients about the firm’s financial health as it neared collapse. 
At the time of filing for bankruptcy, Voyager disclosed liabilities ranging between $1 billion to $10 billion, highlighting the severe financial challenges leading to its need for bankruptcy protection. 
 Read more: <a href="https://crypto.news/blackrock-denies-buying-crypto-trading-platform-voyager-digital/" rel=""> BlackRock denies buying crypto trading platform Voyager Digital </a>

Voyager Digital recovers over $480m from FTX and 3AC settlements

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