Alameda Research Claims Could Impact Voyager’s Credit Recovery Rates

02/27/2023 11:06 • Tech Ticker • 170 views

It is reported that according to a court document issued by the Texas regulatory agency in the United States, if Alameda Research succeeds in claiming $445 million from Voyager, the asset recovery rate of Voyager creditors may fall from 51% to 24% to 26%, while in contrast, the bankruptcy liquidation of Voyager may cause creditors to recover more assets. According to the document, the acquisition of Voyager by Binance.US should be cancelled, and Voyager did not fully warn Alameda’s claim and the user’s personal information may be transferred to overseas jurisdictions.

Texas regulators: If Alameda successfully claims $445 million from Voyager, the rights and interests of other creditors will be halved

Interpret the above information:

According to a recent report, Alameda Research’s claim against Voyager could affect the asset recovery rate of Voyager’s creditors. If Alameda Research succeeds in claiming $445 million from Voyager, it could cause the asset recovery rate of the creditors to fall from 51% to 24% to 26%. In contrast, the bankruptcy liquidation of Voyager could potentially result in creditors recovering more assets.

The court document issued by the Texas regulatory agency stated that the acquisition of Voyager by Binance.US should be cancelled. Voyager allegedly failed to inform Alameda’s claim and the possibility of transferring user’s personal information to overseas jurisdictions. These allegations have serious implications for both Voyager and its stakeholders.

If Alameda’s claims are proven to be valid, Voyager may face severe financial implications. The company’s asset recovery rate may suffer substantially and could lead to a potential bankruptcy. The bankruptcy liquidation option may result in creditors recovering more assets, but the company’s reputation could suffer a significant blow.

Moreover, the allegations of Voyager’s failure to inform Alameda regarding its claims and user data transfer may result in legal action against the company. The regulatory agencies may take action against the company, leading to further financial losses and damage to the company’s reputation.

The situation is bleak for Voyager, and it must take immediate action to regain the trust of its stakeholders. The company should work towards resolving these issues through proper communication with Alameda Research and regulatory agencies. Voyager must also provide clarity regarding the acquisition by Binance.US and the potential consequences of any such transaction.

In conclusion, the allegations against Voyager by Alameda Research could have severe implications for the company, its creditors, and stakeholders. Voyager must take corrective measures to mitigate the potential financial and reputational damage. The asset recovery rate of the creditors largely depends on the outcome of these claims, and the company must work towards minimizing the losses for its stakeholders.

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