Home » Bitcoin » Binance-Voyager deal to proceed without holdings, NY judge rules

The District Court of the Southern District of New York City has rejected the grounds that the US government terminated the recovery of the bankrupt artist company Voyager Digital by Binance.US. According to Chief Judge Michael Wiles, any delay in the deal will also harm former Voyager customers, who are waiting to return their assets.

The decision to reject the government resolution was made on March 15. In the resolution, Wiles strictly enforced his pre-approval for the bankruptcy plan of Traveler Digital, which proposed to sell billions of dollars of assets to Binanc.US in order to diligently regain liquidity and repay customers.

As a result, the court rejected the appeal by the Government to suspend the execution of the confirmation order-the completion of the bankruptcy plan was delayed for another two weeks. In the appeal mentioned on March 14, the bankruptcy plan was sued "so that fraud, theft or tax savings would not be affected". It also provides for the deletion of this provision, preventing the United States government from legally verifying all those who participate in the sale.

Judge Wiles said the charges were exaggerated and incorrectly described, and ruled that he planned to go bankrupt again. However, he confirmed that the current period of stay will end on March 20.

The court approved the sale and purchase of Binanc.US recycling Voyager on March 7th. Judge Wiles allowed the trading site to complete Binanc.US sales while handing out loan repayment tokens to affected Voyager customers. He refutes a series of SEC arguments that allocating assets from travelers to Binance.US violates US securities law.

The decision was made after 97 per cent of the more than 61300 Voyager account holders applied the restructuring plan. According to the current possibility, the plan is expected to cause travelers and debtors to recover about 73% of the use value of the funds.

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