Voyager Digital has announced the recovery of $484.35 million from settlements with FTX, Three Arrows Capital (3AC), and Directors and Officers (D&O) insurance.
The announcement was part of a status update submitted to the United States Bankruptcy Court for the Southern District of New York, outlining the efforts to recover and allocate assets to creditors following the company’s financial decline.
$450 Million FTX Settlement and Major Recoveries
According to an April 9 filing, approximately $450 million of the reclaimed funds came from a settlement with FTX.
This agreement, inclusive of interest, accounts for roughly 25% of Voyager’s creditors’ original claims. The company plans to distribute this amount in an upcoming round, providing much-needed relief to its creditors.
The FTX debtors have agreed to forfeit their rights to the $5 million deposit held in escrow from Voyager’s bankruptcy sale process, with these funds being released to the Wind-Down Debtor’s estate.
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