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Alameda Research, the sister company to the defunct FTX exchange is seeking to recoup $445.8 million in loan repayment it made to the bankrupt crypto lender, Voyager Digital.
Alameda filed the suit on behalf of the bankrupt FTX in a federal bankruptcy court in Delaware on Monday. The court filing revealed that Voyager Digital gave out crypto worth hundreds of millions of dollars in loans to Alameda in 2021 and 2022. Subsequently, Voyager demanded the repayment of the loans following its filing for bankruptcy protection.
Alameda Research paid the loans in full, and in some instances before the maturity date of the loan. Right now, FTX lawyers are now seeking to recover those funds that were preferentially transferred to Voyager for the benefit of Alameda’s creditors prior to the petition date.
The lawyers claim the funds are recoverable under the law because it was transferred after Voyager began its bankruptcy proceedings. In addition, Alameda said the transfers were made during the 90-day avoidance period of making its petition and the company was insolvent at the time.
As a result of the foregoing, Alameda has requested that the court award it no less than $445.8 million, in addition to any additional funds that may be discovered later. Alameda is also seeking to recoup legal fees as well as any other equity it may be entitled to.
Binance Wins Bid for Voyager
The independent U.S. division of Binance exchange has successfully won a bid to acquire the assets of Voyager Digital for $1.02 billion, putting an end to weeks of rumors about who would take over from the beleaguered FTX U.S. exchange in acquiring Voyager after both declared bankruptcy.
The company concluded that Binance.US had made the “highest and best bid for its assets” after considering all of its strategic options. Other crypto firms that submitted bids for Voyager include CrossTower and Broker dealer INX.
FTX and Alameda Research also submitted bids, but Voyager turned them down. Lawyers for Voyager claim the deal only benefited the now-defunct crypto exchange behemoth.
The post Alameda Research Files Lawsuit of $445.8M Against Voyager Digital appeared first on Blockchain, Crypto and Stock News.
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