Voyager has filed for Chapter 11 bankruptcy, citing the 'prolonged volatility and contagion in the crypto markets' and the default of Three Arrows Capital (3AC) on a loan. cryptocurrency bitcoin
Voyager Files for Bankruptcy Citing Contagion in Crypto Markets, Three Arrows Capital's Loan Default
The company and its main operating subsidiaries filed voluntary petitions for reorganization under Chapter 11 in the U.S. Bankruptcy Court of the Southern District of New York. A case filed under Chapter 11 of the United States Bankruptcy Code is frequently referred to as a “reorganization” bankruptcy. This type of bankruptcy puts a hold on all civil litigation matters and allows companies to prepare restructuring plans while remaining operational.
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