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Bankrupt Voyager Digital Secures $484 Million for Creditor Repayments

Prof. Rkay Tiwari
By Prof. Rkay Tiwari
1 Min Read
Bankrupt Voyager Digital Secures $484 Million for Creditor Repayments
  • Voyager Digital has announced a $484.35 million recovery from settlements with FTX, Three Arrows Capital (3AC), and Directors and Officers (D&O) Insurance.
  • The funding facility is a crucial milestone in their plan to repay their creditors following their bankruptcy filing in July 2022.
  • Voyager confronts obstacles. They have a total of 270,000 uncashed checks for $17 million. The deadline to claim them is April 20. The same financial institution is looking into the data breach that exposed third-party creditor information.
  • The litigation with FTX provided nearly half of the funding, $450 million. By doing so, creditors can recover approximately 25% of the initial claims. Aside from that, Voyager has secured a creditor claim for $675 million, with an initial distribution component of $20.43 million. Furthermore, D&O mediation resulted in a $14.35 million settlement with creditors.

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    By Prof. Rkay Tiwari
    Prof. Rkay Tiwari is a post graduate in Economics with specialization in International Economics & Finance and has joined Crypto SA with a skill building view in the world of cryptocurrency and blockchain. He regularly contributes latest happenings of crypto industry. He is dynamic and a quick learner with a hold on financial data analysis.
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