Alameda Seeks to Claw Back $446 Million From Bankrupt Voyager
Attorneys for Alameda Research are seeking to claw back around $445.8 million in loan repayments made last year to bankrupt cryptocurrency broker and lender, Voyager Digital.
In a lawsuit filed on Monday, the lawyers asked the court to rule that the payments “are avoidable preferential transfers,” so some creditors aren’t favoured over others.
Lawyers Blame Voyager as Part of Alameda’s Problem
Voyager, which filed for bankruptcy protection, had extended hundreds of millions of dollars worth of cryptocurrency loans to Alameda, which the trading company repaid between September and October.
But according to the attorneys, the payments were made less than three months after Alameda bowed out alongside other subsidiaries of FTX. As such, the money can be clawed back to repay Alameda’s creditors.
For even funding Alameda, the attorneys blamed Voyager for being part of the problem that plagued the trading company to its demise.
“Largely lost in the (justified) attention paid to the alleged misconduct of Alameda and its now-indicted former leadership has been the role played by Voyager and other cryptocurrency ‘lenders’ who funded Alameda and fueled that alleged misconduct, either knowingly or recklessly,” the lawyers wrote.
Voyager Says Alameda is Trying to Undermine Its Restructuring Efforts
Voyager and the FTX empire have had quite a scuffle over the past few months. In the wake of Voyager’s troubles in July, Alameda had offered to buy all the company’s assets. However, the crypto broker dismissed the offer as a “low-ball bid dressed up as a white knight rescue.”
Earlier this month, Voyager accused Alameda of desperately seeking to “undermine and sabotage” its restructuring efforts by objecting to the $1 billion deal by Binance.US to take over the company’s post-bankruptcy assets.
Alameda’s sister company FTX had previously won the bid to acquire the assets. However, the deal was dropped after the company entered bankruptcy in November.
~ By Ibiam Wayas ~
