Bankrupt crypto lender Voyager is set to liquidate all its assets through an auction that is scheduled for Sept. 13.
Voyager announced on Sept. 7 that it had received multiplied bids from parties interested in buying up its assets.
Voyagers, we want to let you know that multiple bids were submitted as part of the company’s restructuring process. As a result, an auction is scheduled for September 13th. (1/3)
— Voyager (@investvoyager) September 7, 2022
The auction is scheduled to happen on Sept. 13, 2022, at the New York offices of Voyager’s investment bankers, Moelis & Company.
The bankruptcy court will deliberate on the outcome of the auction and look to approve the result on Sept. 29. Further adjustments may be made to the approval date if the court deems it necessary.
Voyager in an Aug. 4 filing claimed that about 88 parties were interested in buying up its assets, of which 22 parties were in active discussion with the firm.
Not much is known about the interested parties as many of them had signed non-disclosure agreements (NDAs) with Voyager.
However, leading exchanges FTX and Binance are said to be actively pursuing the auction process.
Voyager had clapped back at FTX’s offer describing it as a low-ball bid. In the filing, Voyager said that several offers on its table are “higher and better than AlamadeFTX’s proposal.”
Consequently, the struggling crypto lender sent AlamedaFTX a letter asking it to desist from its offer claims which are allegedly inaccurate.
Customers’ claim process
Voyager added in the auction announcement that once the auction process is completed, customers’ would reclaim their assets.
The firm had communicated with customers on Aug. 24 detailing the guideline they should follow to be able to reclaim their crypto assets.
All customers had until Oct. 3, 2022, to review Voyager’s record of their indebted assets. Customers with a dispute are required to submit proof of claim before the bar date to have it resolved.
Once the winning bidder is announced, customers will receive further details about the claim process.
Disclaimer: Our writers' opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.