Bankrupt crypto broker Voyager Digital is announcing that it will auction the remainder of its assets on September 13th.
auction is part of the restructuring plan for Voyager as the troubled company undergoes bankruptcy processes.
Court documents show that bidding will take place at the New York office of Voyager’s investment banker, Moelis & Company.
A presentation shown during the company’s bankruptcy proceeding on August 4th claims that several companies including crypto billionaire Sam Bankman-Fried’s crypto hedge fund AlamedaFTX already expressed interest in buying Voyager’s assets.
“Voyagers, we want to let you know that multiple bids were submitted as part of the company’s restructuring process. As a result, an auction is scheduled for September 13th.”
The company says it will share more details about the winning bidder once the auction is complete. The court hearing that will approve the results of the auction is set on September 29th.
“Once the auction is complete, we will share more information about the winning bidder and what it means for you as a customer.
In the meantime, please review the email you received from “Voyager Digital Restructuring” last week. It includes important information about the claims process.”
Despite its insolvency, Voyager considers paying nearly $2 million in employee bonuses as part of the proposed Key Employee Retention Plan (KERP). Lawyers of a group of unsecured creditors opposed and questioned the sound judgment behind the proposal.
