A transfer by Binance US to amass belongings belonging to the bankrupt crypto lending agency Voyager Digital has been favored by 97% of Voyager’s prospects.
A Feb. 28 court docket submitting exhibits an awesome majority of Voyager Digital account holders are in favor of the buyout from the United States-based arm of the crypto alternate Binance.
Chapter administration agency Stretto performed the balloting of Voyager prospects which polled 61,300 account holders with claims towards the embattled crypto lender.
Of that whole, 59,183 voted in favor of the Binance US restructuring plan with simply 3%, or 2,117 voters rejecting it.
The voters had been divided into 4 lessons together with, account holder claims and three classes of these with “basic unsecured claims.” The latter teams additionally voted in favor of the proposal.
In December, Binance US disclosed an settlement to purchase Voyager’s belongings for $1.02 billion. Based on the press launch on the time, the Binance US bid “goals to return crypto to prospects in sort, in accordance with court-approved disbursements and platform capabilities.”
Nonetheless, there was plenty of pushback and quite a few objections to the proposal by the American division of the world’s largest crypto alternate.
Based on a Feb. 24 court docket submitting, the Texas State Securities Board and the Division of Banking objected to the proposed deal.
It claimed the restructuring plan comprise quite a lot of “insufficient” disclosures. A few of these included not informing unsecured collectors that they could solely get 24% to 26% restoration quite than the 51% they’d obtain below Chapter 7 chapter.
Associated: Voyager is promoting crypto belongings via Coinbase, suggests on-chain knowledge
The Securities and Alternate Fee (SEC) additionally objected to the transfer. A Feb. 22 court docket submitting claimed the Binance US acquisition of Voyager belongings may breach securities legislation.
On the identical day, the Federal Commerce Fee (FTC) began an investigation into Voyager Digital for its “misleading and unfair advertising and marketing of cryptocurrency to the general public.”
