Voyager Digital secured a total of $484.35M in settlement funds from the D&O policy, FTX, and 3AC. This credit facility constitutes a major milestone in their plan to fulfill their debt to their creditors after their filing for bankruptcy in July 2022.
Nearly half the amount, $450m, was given by the case with FTX. By doing this, the creditors can recover some 25% off the initial claims. Apart from that, Voyager has secured for itself a $675 million creditor claim with an initial distribution portion of $20.43 million. Furthermore, D&O mediation ended with giving up $14.35 million to creditors.
However, Voyager faces challenges. They have a total of 270,000 uncashed checks, amounting to $17 million. The deadline for claiming them is April 20. The same financial institution is investigating the data breach that involved third-party creditor information.
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