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Voyager bankruptcy plan approved, customers may recover 35.7% of claims initially

Crypto brokerage Voyager’s bankruptcy plan was approved by the United States Bankruptcy Court for the Southern District of New York on May 17, according to a Reuters report. Judge Michael Wiles’ order approving the procedure was published by the court a day earlier.

The so-called third bankruptcy plan was proposed on May 5 after Binance.US backed out of plans to buy $1 billion worth of Voyager assets on April 25. That deal had overcome resistance from the U.S. government before Binance.US’ last-minute reversal. Voyager will now liquidate — that is, distribute its assets to its creditors.

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