Bloomberg Law
Jan. 4, 2023, 10:58 PM

Alameda Challenges Voyager Bankruptcy Plan Over $75 Million Loan

James Nani
James Nani

Bankrupt Alameda Research Ltd. asked a court to reject Voyager Digital Holdings Inc.'s bankruptcy turnaround proposal because it favors some unsecured creditors over its own multi-million dollar claims.

The proposed Chapter 11 plan submitted by the bankrupt crypto trading platform can’t be confirmed because it discriminates against Alameda’s claims, the trading firm told the US Bankruptcy Court for the Southern District of New york on Wednesday. Alameda was co-founded by Sam Bankman-Fried and is associated with his fallen crypto firm, FTX.

Alameda loaned Voyager $75 million in rescue financing in June, less than two weeks before Voyager filed for bankruptcy. ...