A transfer by Binance US to amass property from bankrupt crypto lending firm Voyager Digital was favored by 97% of Voyager's prospects.
A February 28 courtroom submission exhibits that an amazing majority of Voyager Digital account holders are in favor of its acquisition by the US-based arm of crypto trade Binance.
Chapter administration agency Stretto carried out the vote of Voyager prospects, polling 61,300 account holders with claims towards the embattled crypto lender.
Of that complete, 59,183 voted in favor of Binance US' restructuring plan, whereas solely 3% or 2,117 voters opposed it.
Account holder claims voting outcomes: Supply: Stretto
Voters have been divided into 4 lessons, together with account holder claims and three classes of these with “normal unsecured claims.” The latter teams additionally voted in favor of the proposal.
In December, Binance US introduced an settlement to buy Voyager's property for $1.02 billion. In keeping with the press launch on the time, Binance US' providing goals to return crypto to prospects in sort, in accordance with court-approved payouts and platform capabilities.
Nonetheless, there was a variety of resistance and quite a few objections to the proposal of the American division of the world's largest crypto trade.
In keeping with a Feb. 24 courtroom submitting, the Texas State Securities Board and Division of Banking have objected to the proposed transaction.
It claimed the restructuring plan contained quite a lot of "insufficient" disclosures. A few of these included failing to inform unsecured collectors that they could solely get 24% to 26% compensation as an alternative of the 51% they'd obtain beneath a Chapter 7 chapter.
Associated: Voyager Sells Crypto Property By Coinbase, Suggests On-Chain Knowledge
The Securities and Change Fee (SEC) additionally disagreed with the transfer. A Feb. 22 courtroom submitting alleged that Binance US' acquisition of Voyager property might violate securities legal guidelines.
On the identical day, the Federal Commerce Fee (FTC) launched an investigation into Voyager Digital for its “misleading and unfair advertising and marketing of cryptocurrency to the general public.”