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HomeTechnologyBankrupt cryptocurrency lender Voyager announces to auction off its assets

Bankrupt cryptocurrency lender Voyager announces to auction off its assets

An open auction is planned on September 13 with the purpose of selling off all of the assets belonging to the bankrupt cryptocurrency lending platform Voyager. Voyager made the announcement on September 7 that it has been inundated with offers from many companies interested in purchasing all of its assets.

The auction is slated to take place on September 13, 2022, in the New York offices of Moelis & Company, which serves as Voyager’s investment bankers. The results of the auction will be subject to consideration by the bankruptcy court, and on September 29 the result is expected to be approved. If the court determines that it is required, further modifications might be made to the date of approval.

In a filing made on August 4, Voyager said that about 88 parties had shown interest in purchasing the company’s assets, 22 of which were reportedly in active negotiation with the company.

Due to the fact that many of the interested parties had signed non-disclosure agreements (NDAs) with Voyager, not much information is available about them. In the statement on the sale, Voyager said that after the process of the auction was over, the customers’ assets will be returned to them.

On August 24, the company sent a message to its clients outlining the procedure that they needed to carry out in order to be able to retrieve their cryptocurrency holdings.

Voyager gave all of its clients until October 3, 2022, to go through the record of their owed money and assets on the company’s website. Customers who are involved in a dispute are needed to produce evidence of claim prior to the deadline in order to have the matter addressed. Customers will get more information on the procedure of making a claim after the successful bidder has been announced.

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Jeewan Singh is CryptoShrypto’s content writer and a seasoned writer with over two years of experience in writing about Indian Securities Market. Jeewan's participation in Blockchain and Cryptocurrency started in late 2020, and he hasn't looked back since. The technical and economic outcomes of cryptocurrency are what spark his curiosity, and he keeps one eye on the market.
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