Customers of bankrupt crypto lender investvoyager could recover around 72% of their funds if a judge approves the sale to FTX_Official. The finalization of the sale is contingent on a judge approving the lender's payout plan. By iamsandali
in the U.S. Southern District Court of New York back in July. At the time, it had around 100,000 creditors and between $1 billion to $10 billion in assets. The bankruptcy filing was followed by a bidding war to buy the embattled lender, which Sam Bankman-Fried'sIn a letter to the court filed on Oct.
During a hearing on Wednesday, U.S. Bankruptcy Judge Michael E. Wiles approved an arrangement where Voyager can scrap the FTX deal if a better offer materializes that promises customers a chance to recover more of their funds, the report said. Wiles may consider approving Voyager's bankruptcy payout plan in December – a prerequisite for approving the sale.
The firm also requested Wiles' permission to send its payout plan to customers for a vote, Bloomberg reported. Even if creditors vote in favor, Wiles still has the final say on the sale.
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