- Before the collapse of FTX, the crypto exchange had proposed to acquire the assets of Voyager Digital.
- The proposal failed, and Binance later got the approval to acquire the crypto lender.
A team representing the unsecured creditors of Voyager Digital, the bankrupt crypto lender, have asked the former FTX executives – Sam Bankman-Fried, Samuel Tarbucco, Nishad Singh, Gary Wang, and Caroline Ellison – to appear before a bankruptcy court this week on questions around the attempted acquisition of the failed crypto lender.
In July last year, FTX offered ‘‘an early liquidity’’ to the customers of Voyager Digital. The plan was declined by the firm, terming it as a ‘‘low-ball bid dressed up as a white knight rescue.’’ Binance later acquired the now-bankrupt firm.
In light of the same, the individuals mentioned above must appear for a remote disposition on February 23, according to a court filing. The same creditors reportedly served similar summons to Bankman-Fried, Ellison, Wang, and FTX’s head of product Ramnic Arora on February 6.
See Related: FTX Orders Beneficiaries of Its Political Donations to Return Money – Estimated at $93 million
SBF And His Former Executives To Submit Relevant Documents Before February 20th
Besides, the summons, filed before the US Bankruptcy Court Southern District of New York, have compelled the executives to produce documents and all the relevant information about the loan agreements between Alameda Ventures and Voyager.
Noteworthy, Alameda Research, FTX’s sister company, sued Voyager Digital last month, seeking to recover more than $400 million in payments made to the lender. FTX paid $442.7 million to Voyager – the amount it seeks to recover – on grounds that the payment was close to FTX’s bankruptcy filing. The multiple investigations come amid a warning by bankruptcy Judge Lewis Kaplan that Bankman-Fried’s bail could be revoked for witness tampering.
See Related: Crypto-Friendly Bank Silvergate Faces Probe For Dealings With Bankrupt FTX
