Voyager’s long path through bankruptcy is over.
on its website that customers could now expect to receive 35.72% of their claims initially, either in crypto through the Voyager app or in cash after 30 days. According to Voyager, it had $1.33 billion of assets for recovery as of May 8, of which $629.8 million was available for initial recovery, on claims of $1.8 billion.
Customers with crypto in their account will receive in exchange a combination of the crypto in their account, proceeds from the 3AC recovery, common shares in the newly reorganized Company, and Voyager tokens.The size of the creditors’ initial recovery could increase if FTX/Alameda Research’s claim for preferential recovery is unsuccessful. Voyager is holding back $445 million to cover that claim. In addition, Voyager may still recover funds from bankrupt Three Arrows Capital.
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