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“Consummation of the plan by April 13 is necessary to preserve massive creditor value,” said a filing by Voyager’s creditors. “The evidence is uncontroverted that, if the deal is not completed, Voyager’s creditors will lose roughly $100 million in value.” Source
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District Judge Jennifer Rearden put the $1 billion deal on hold but said she’d expedite an appeal to avoid too much delay Source
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A New York court denied the government’s request to halt the $1 billion deal, saying delay would harm customers. Source
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The bankruptcy judge on Voyager Digital’s case has reportedly scolded the United States securities regulator over its ambiguous reasoning for objecting to the crypto lending firm’s proposed sale to Binance.US.At a Mar. 2 hearing in a New York court, U.S. bankruptcy judge Michael Wiles said the Securities and Exchange Commission
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Texas' State Securities Board and the Department of Banking are objecting to a proposed deal between Binance.US and bankrupted crypto lender Voyager Digital, shows a court filing from Feb. 24. According to the document, Binance.US's terms of service and restructuring plan contain a number of "inadequate" disclosures, including not informing unsecured creditors
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