BTC-Newswire

Voyager And Binance Deal Advances With Resolution By US Government

Press Releases Crypto News Bitcoinist Voyager And Binance Deal Advances With Resolution By US Government

Voyager Digital, a publicly-traded cryptocurrency brokerage, and Binance US have reached a resolution with the US government and the Unsecured Creditors Committee (UCC) that will allow its bankruptcy plan to move forward.

The resolution comes after the US Department of Justice appealed a court order approving Voyager’s bankruptcy plan, which created a new hurdle for the crypto lender’s plan to sell its assets and transfer its customers to Binance.US in a deal valued at $1.3 billion.

Green Light For Binance And Voyager

According to the announcement, the resolution is embodied in a joint stipulation that provides that the appeals will continue concerning the Plan’s exculpation provision. However, the government has agreed that the plan may move forward without such provision and will not otherwise be subject to the stay.

Voyager and the UCC are now working with Binance.US to move forward as quickly as possible once this stipulation is approved by the District Court.

The fact that the Plan is moving forward without the exculpation provision means that Voyager’s directors and officers will not be granted such protection. This decision could have implications for the individuals involved, as they could potentially face legal claims for any actions taken during the bankruptcy process.

In addition, it is worth noting that the decision to move forward without the exculpation provision does not necessarily mean that the directors and officers will be held liable for any actions taken during the bankruptcy process.

The provision would have provided them with an additional layer of protection, but they will still be subject to legal scrutiny and could be held liable if they are found to have acted improperly.

Despite this, this development brings much-needed clarity and certainty to the situation, which had been causing concern for Voyager’s 1.7 million users. The acquisition by Binance.US is expected to provide users with access to a wide

Go to Source to See Full Article
Author: Ronaldo Marquez

Did you like this?
Tip BTC Newswire with Cryptocurrency