Creditors of Voyager Digital may finally receive their funds as the bankrupt crypto broker enters the final stages of liquidation procedures.
According to the Voyager Official Committee of Unsecured Creditors (UCC), initial distributions of the funds may begin in a few weeks.
Binance.US had previously backed out of a $1.02 billion deal to purchase Voyager’s assets, citing the uncertain regulatory climate in the US as the reason.
However, Voyager’s restructuring plan includes a “toggle option” that allows for self-liquidation, which allows the bankrupt broker to distribute cash and crypto to customers directly via the Voyager platform.
The UCC stated it was investigating potential claims against Binance.US for its last-minute change of heart. An overwhelming majority of Voyager customers, 97%, voted in favor of the court’s restructuring plan, which included Binance.US’s acquisition of the stranded assets. If no objections are filed in the next 10 days, Voyager will “go effective” with the plan.