BlocksInform
The insolvency proceedings of the FTX group saw their share of surprising and even downright hilarious moments.
A motion tabled on January 30 continues in the spirit of the preceding ones, seeking to absolve the management of ftx of all liability.
Repayment of the loan applied for.
Earlier in the year, Voyager Digital was forced to file its own bankruptcy case Chapter 11. At that point, ftx made a buyback offer to Voyager, which was declined. SBF then lashed out at the latter, accusing it of attempting to squeeze more money out of customers via bankruptcy proceedings.
Travel digital returned him the favor, claiming that sbf made false claims on the bankruptcy case, and shot him for having made public the details of the proposed agreement.
However, times have changed, and the ftx group is now under fire with traveling. In its efforts to repay its clients, Voyager applied to FTX for repayment of its loans.
Depending on the docket, $445.8 million in refunds, divided into three payments: interest of $3.2 million paid in August, and $248.8 million and $193.9 million in loan disbursements in September and October, respectively. FTX wants to recover that money.
Charge Voyager with not exercising due diligence.
Since the loans were repaid shortly before FTX went bankrupt, lawyers for the FTX Group have filed a motion requesting the repayments be returned to Alameda. The deposit also asserts that Alameda's bankruptcy is in part the fault of Voyager and other companies, which would have failed to exercise due diligence and misused customer funds. Potty, here comes the kettle.
“The collapse of Alameda and its affiliates following claims that Alameda covertly borrowed billions of FTX-exchange assets is well known. Largely lost in the (justified) attention paid to the alleged misconduct of Alameda and its now-indicted former leadership has been the role played by Voyager (…) who funded Alameda and fueled that alleged misconduct, either consciously or through carelessness. (...) For this purpose, Voyager loaned Alameda hundreds of millions of dollars in cryptocurrency in 2021 and 2022."
In a nutshell, Alameda's lawyers seem to be saying that some of the misconduct in Alameda was fueled by Voyager, that allowed the corporation founded by the SBF to continue to flout its own rules.
Consequently, the lawyers of the FTX Group see the repayment of their debt to Voyager in a negative way and ask that the money be returned to the pockets of Alameda.
