Voyager’s Binance US Sale Plan ‘Full Steam Ahead,’ Counsel Says
Plans to wind up Voyager by selling assets to Binance US are “on track,” an attorney for the bankrupt crypto lender told a New York court on Wednesday.
Lawyers for Voyager said 97% of votes so far have been in favor of the plan with hours left to go in the voting process.
“As of last night, creditors are still overwhelmingly voting to accept the plan at 97%,” Allyson Smith of Kirikland & Ellis, representing Voyager, told bankruptcy judge Michael Wiles, with a deadline to vote on or object to the plan due to close at 4:00 p.m. Eastern Time Wednesday.
“We are on track and don't anticipate any obstacles and expect to be before Your Honor again next Thursday,” Smith said, referring to an intention to confirm the plan on Mar. 2.
Voyager, which filed for bankruptcy in July 2022, initially agreed to sell itself to FTX, but reopened the bidding process after Sam Bankman-Fried's exchange collapsed in November. Binance.US swooped in with the winning offer in December, which Voyager attorneys said would offer the best deal for creditors.
CORRECTION (Feb. 22, 17:43 UTC): Corrects spelling of Allyson Smith's name; correctly attributes second quote to Smith