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Embattled crypto investment company Alameda Research continues to bankrupt crypto lender Voyager Digital in an effort to recover repayments of FTX loans made before it collapsed in November.
Attorneys handling the bankruptcy ftx and alameda sued to travel for $445.8 million in a Delaware court on Jan. 30.
While both companies declared bankruptcy in 2022, the tabling of Voyager Chapter 11 came four months earlier in July. Further to Chapter 11 of Voyager, the crypto lender has requested repayment of all outstanding loans from ftx and its alameda research affiliate.
According to the attorneys of ftx depositing in the name of alameda, these loan repayments are eligible for recovery because they were made so near their own bankruptcy in November.
Ftx claims to have paid Voyager $248.8M in September and $193.9M in October. The exchange also made a $3.2 million interest payment in August, according to the court filings.
FTX acknowledged the allegations that Alameda used the deposits of FTX clients for its risky investments, but added that Voyager and other crypto loan companies were also accomplices, Channel clients' funds to Alameda with "little to no due diligence". It stated:
“Voyager's business model was that of a feeder fund. It has solicited and invested retail investors with little or no due diligence in cryptocurrency mutual funds such as Alameda and Three Arrows Capital."
The crypto-swap in difficulty hopes to reuse all the recovered funds to repay some of its creditors.
FTX had planned to buy Voyager out of bankruptcy before its collapse in November.
Related: Which tokens could FTX dump on the market?
In addition, ftx applied to the court for the exclusion of two of its Turkish subsidiaries from bankruptcy proceedings.
In a motion filed on Jan. 27, the company has asked for the exclusion of FTX Turkey and SNG Investments as it believes U.S. courts have no jurisdiction in the country and customers had already begun private claims against the company.
“The orders entered by this Court do not have legal or practical effect in Turkiye and the Debtors have no reason to believe that the Turkish government will comply with this Court’s orders,” the filing stated.
