Voyager intends to start returning customer funds in coming weeks News ▸ US ▸ Bankruptcy
Voyager intends to start returning customer funds in coming weeks
The bankrupt firm will likely "go effective" with its plans unless an objection is filed.
1 min read
Updated: May. 4, 2023 at 11:48 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Voyager Digital plans to begin returning funds to creditors as part of its bankruptcy proceedings, Voyager’s unsecured creditor committee said on May 4.
The Voyager Official Committee of Unsecured Creditors wrote:
“Voyager is … finalizing everything internally that is necessary to make distributions to creditors. We are hopeful that initial distributions will begin within the next few weeks.”
The creditor committee and Voyager are currently finalizing liquidation procedures and the relevant filings will likely be submitted on May 5. This must occur before the agreed-upon plan comes into effect, and the process could be delayed further if any objection requiring a court hearing is filed within 10 days of the first filing.
Otherwise, Voyager will soon “go effective” with the plan, the committee said.
Voyager initially suspended withdrawals and other transactions on July 1, 2022. It filed for bankruptcy just a few days later on July 6, 2022.
Voyager received court approval to return $270 million of customer funds in August 2022.
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Mike Dalton
Before transitioning to crypto writing in 2018, Mike studied library and information sciences. Currently, he resides on Canada's West Coast.
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Voyager
Voyager Digital is a bankrupt cryptocurrency exchange company in the United States that was founded in 2018.