# FTX sister company Alameda Research sues Voyager Digital for $446M
” FTX sister company Alameda Research sues Voyager Digital for $446M “
Lawyers managing the FTX and Alameda bankruptcy case sued Voyager for $445.8 million in a Delaware court on Jan. 30.
While both companies filed for bankruptcy in 2022, Voyager’s chapter 11 filing came four months earlier in July. Following Voyager’s Chapter 11, the crypto lender demanded repayment of all outstanding loans to FTX and its affiliate investment firm Alameda Research.
According to FTX lawyers filing on behalf of Alameda, these loan repayments are eligible to be clawed back as they were made so close to their own bankruptcy in November.
FTX claims it paid Voyager $248.8 million in September and $193.9 million in October. The exchange also made a $3.2 million interest payment in August, according to the court filings.
FTX acknowledged allegations that Alameda used FTX customer deposits for its risky investments but added that Voyager and other crypto lending firms were also complicit, “knowingly or recklessly” funneling customer funds toward Alameda with “little or no due diligence.” It stated:
“Voyager’s business model was that of a feeder fund. It solicited retail investors and invested their money with little or no due diligence in cryptocurrency investment funds like Alameda and Three Arrows Capital.”
The embattled crypto exchange hopes to repurpose any reclaimed funds to repay some of its creditors.
FTX had planned to buy Voyager out of bankruptcy before its collapse in November.
Related: Which tokens could FTX dump on the market?
In a separate development, FTX has asked the court to exclude two of its Turkish subsidiaries from the bankruptcy proceedings.
In a motion filed on Jan. 27, the company has asked for the exclusion of FTX Turkey and SNG Investments as it believes U.S. courts have no jurisdiction in the country and customers had already begun private claims against the company.
“The orders entered by this Court do not have legal or practical effect in Türkiye and the Debtors have no reason to believe that the Turkish government will comply with this Court’s orders,” the filing stated.
If you liked the article, do not forget to share it with your friends. Follow us on Google News too, click on the star and choose us from your favorites.
For forums sites go to Forum.BuradaBiliyorum.Com
If you want to read more News articles, you can visit our General category.