The creditors’ committee overseeing the Voyager Digital bankruptcy case has announced that the first payouts to creditors will commence by June 1st. This news comes as a relief to many investors who have been waiting for months to receive their funds.
Voyager Digital, a cryptocurrency trading platform, filed for bankruptcy in February of this year after experiencing financial difficulties. The company owed millions of dollars to its creditors, including investors who had deposited funds on the platform.
Since the bankruptcy filing, the creditors’ committee has been working to liquidate Voyager’s assets and distribute the proceeds to creditors. The committee has been able to recover a significant amount of funds through the sale of Voyager’s assets, including its intellectual property and customer data.
According to the creditors’ committee, the first payouts will be made to secured creditors, who have a legal claim on specific assets of the company. These creditors will receive a portion of the proceeds from the sale of those assets.
After the secured creditors have been paid, the remaining funds will be distributed to unsecured creditors, including investors who had deposited funds on the platform. The amount that each creditor will receive will depend on the size of their claim and the total amount of funds available for distribution.
The creditors’ committee has stated that it expects to make additional payouts in the coming months as more funds are recovered from the sale of Voyager’s assets. However, it is important to note that not all creditors may receive full repayment of their claims.
Investors who had deposited funds on the Voyager platform should continue to monitor the situation closely and stay in contact with the creditors’ committee for updates on the payout process. It is also recommended that investors consult with a financial advisor or attorney to understand their legal rights and options.
In conclusion, the announcement that the first Voyager payouts will commence by June 1st is a positive development for creditors who have been waiting for months to receive their funds. While not all creditors may receive full repayment of their claims, the creditors’ committee is working to distribute the available funds as fairly and efficiently as possible. Investors should continue to monitor the situation and seek professional advice as needed.
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- Source: https://zephyrnet.com/first-voyager-payouts-should-begin-by-june-1-creditors-committee-says/