Alameda Research, the sister company of bankrupt digital asset exchange FTX, is suing bankrupt crypto lender Voyager in an attempt to recover nearly $446 million in loan payments, according to new court filings.
Alameda filed a complaint on Monday in the U.S. District Court of Delaware, requesting “no less” than $445.8 million in repayments from Voyager, plus the value of any additional avoidable transfers the company learns about during the legal process.
“Following the commencement of its Chapter 11 cases, Voyager demanded repayment of all of its outstanding loans to Alameda, including, in some instances, prior to stated maturity dates. Voyager was repaid in full.
This Adversary Proceeding seeks to recover those funds preferentially transferred to Voyager prior to the Alameda Petition Date for the benefit of Alameda’s creditors. The preferential transfers were made after the commencement of the Voyager Chapter 11 Cases and are therefore recoverable by Plaintiff on an administrative priority basis pursuant to sections 503 and 507 of the Bankruptcy Code.”
Voyager filed for bankruptcy in July. Alameda Research’s closely-associated FTX went bankrupt in November.
Earlier this month, FTX CEO John J. Ray III, who replaced disgraced founder Sam Bankman-Fried, said the company might reboot instead of liquidating all of its assets to settle its insolvency.
Bankman-Fried is accused of misleading investors and mishandling customer funds and is currently under house arrest following his eight-count indictment.
Main content of the article:
Alameda Research is suing Voyager, a bankrupt crypto lender, to recover $446 million in loan payments. The complaint was filed in the U.S. District Court of Delaware and requests repayment plus the value of any additional avoidable transfers. The lawsuit follows Voyager’s filing for bankruptcy in July, and FTX’s bankruptcy in November. The FTX CEO has said the company might reboot instead of liquidating assets to settle its insolvency. Sam Bankman-Fried, the founder, is accused of misleading investors and mishandling customer funds and is currently under house arrest.