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Recent court documents filed in the bankruptcy cases of Voyager Digital and Celsius Network reveal the financial ruin potentially facing customers of both companies.
A major investor in Voyager said that the collapse of FTX puts into jeopardy the company's bailout, with $1.3 billion of investor assets threatened. [10] Following the bankruptcy of FTX, the US subsidiary of Binance won the bid to buy the assets of Voyager for approximately $1 billion in December 2022. [11]
This month, Voyager froze withdrawals, as did another lender, Singapore's Vauld.Last week, Voyager said it had issued a notice of default to crypto hedge fund Three Arrows Capital for failing to ...
On July 13, 2015, DonJon filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the District of Connecticut with a debt of $32,509,549.91. Modern bankruptcy law often distinguishes reorganization , in which only some of the bankrupt's assets are taken, a repayment plan is devised and part of the debt is discharged , from ...
Chapter 11 of the United States Bankruptcy Code (Title 11 of the United States Code) permits reorganization under the bankruptcy laws of the United States. Such reorganization, known as Chapter 11 bankruptcy, is available to every business, whether organized as a corporation, partnership or sole proprietorship, and to individuals, although it is most prominently used by corporate entities. [1]
Customers of bankrupt crypto firms Celsius and Voyager detailed stories of distress in letters to a bankruptcy court. 'I have been in shock': Court letters reveal financial distress after Celsius ...
Customers of insolvent crypto lender Voyager Digital reaped a minor win in court Thursday morning with a U.S. Bankruptcy Judge approving Voyager’s motion to give customers back $270 million in ...
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