Customers of bankrupt crypto lender Voyager Digital may be able to recover 72% of their account value under a preliminary agreement with FTX US, according to court documents.
However, judge Michael Wilessaid This is not over until Voyager’s creditors are approved and the bankruptcy payment plan is approved.
There is also a so-called “fiduciary out” that allows Voyager to terminate its agreement with FTX if any offer produces better outcomes for its creditors. This allows the company to consider higher offers until the sale is complete. This ensures creditors get the best deal.
Voyager filed for Chapter 11 bankruptcy on July 4 because of liquidity issues. After the Default Crypto Hedge Fund Three Arrows Capital
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