BlocksInform
February 6, 2023, Kirkland LLP. The citation to produce documents and communications related to the "alameda loan contract" between alameda ventures and travel, along with other important documents. In addition, Voyager Digital has summoned the former CEO of Alameda Research, Caroline Ellison, the co-founder of FTX, Gary Wang, and the former chief product and investor relations officer of FTX, Ramnik Arora.
Law Firm Kirkland & Ellis Requests Documentation for Proposed FTX-Voyager Deal
Kirkland & Ellis, the law firm representing the now-bankrupt crypto lender Voyager Digital, has sent a to former FTX and Alameda staff including Sam Bankman-Fried, Caroline Ellison, Gary Wang, and Ramnik Arora. Counsel request the parties to produce all documents and communications related to the transaction Voyager entre alameda ventures et west realm shire inc., also known as ftx.
Prior to FTX’s collapse, FTX and Bankman-Fried insisted that the crypto exchange would help Voyager’s customers obtain liquidity in July 2022. Bankman-Fried that he was “happy to do what we can to get liquidity to Voyager’s customers” and published a press release on PR Newswire detailing how FTX would help the insolvent crypto firm. After the statement from Bankman-Fried and FTX, reports emerged that FTX would purchase Voyager and its assets for $1.4 billion.
However, on October 14, 2022, the texas state securities board (ssb), the texas department of banking and the texas attorney general to the possible purchase of ftx. The Texas Securities Commissioner said that an investigation into FTX was necessary before the transaction could be finalized. Ftx was being investigated because it was not registered as a fund issuer or otherwise with the Texas Banking Department, and unregistered as a government securities dealer. Kirkland & Ellis is hoping to obtain all the documents and communications that the subpoenaed individuals may have regarding the proposed FTX/Voyager deal.
The lawyers want all documents associated with the Department of Justice fraud case and the Securities and Exchange Commission (SEC) case as well. The repository refers to documents pertaining to "Ellison Admissions" and "Wang Admissions." Attorneys for Voyager are seeking documentation associated with FTX’s new CEO, John J. Ray III, and his statements. Lawyers also say they will need "text messages, slack messages, telegram and signal messages" between one of the above parties. The repository also refers to the bankman-fried tweet storm of 24 July 2022, and looks for any communication with changpeng zhao (cz), the BINANCE founder.
Kirkland & Ellis is pursuing any available “FTX-related entities’ trading logs related in any way to the VGX token” between April 2022 and November 11, 2022. Basically, the law firm's list is exhaustive and mentions almost all the documents that could be related to ftx and the agreement proposed by bankman-fried to help and then purchase travel digitally. Subpoenas follow alameda's search for $446 million on the so-called "preferred transfers" to travel.
How will this assignment affect FTX and Voyager Digital? Leave your thoughts in the following comments section.
