Alameda Research Seeks $446 Million Over Alleged ‘Preferential Transfers’ to Voyager Digital

On Monday, Alameda Research Ltd. filed a ineligible ailment against Voyager Digital LLC and HTC Trading Inc. successful the U.S. bankruptcy court. The ailment alleges the defendants received preferential transfers of spot from Alameda Research and the plaintiffs are seeking to retrieve astir $445.8 cardinal from Voyager and HTC.

Legal Battle Erupts Over Crypto Asset Transfers Reportedly Made by Alameda Research

A recently filed ailment successful the FTX bankruptcy proceedings shows Alameda Research, the defunct quantitative trading steadfast created by Sam Bankman-Fried (SBF), is seeking adjacent to $446 cardinal from bankrupt speech Voyager Digital and HTC Trading. Lawyers for Alameda assertion the institution paid disconnected outstanding loans aft Voyager filed for bankruptcy extortion successful July. The ailment besides claims the transfers are recoverable arsenic an administrative precedence nether sections 503 and 507 of the U.S. Bankruptcy Code.

“The illness of Alameda and its affiliates amid allegations that Alameda was secretly borrowing billions of FTX-exchange assets is wide known,” the filing details. “Largely mislaid successful the (justified) attraction paid to the alleged misconduct of Alameda and its now-indicted erstwhile enactment has been the relation played by Voyager and different cryptocurrency ‘lenders’ who funded Alameda and fueled that alleged misconduct, either knowingly oregon recklessly,” the ailment adds.

When Voyager filed for bankruptcy extortion successful July, it cited a indebtedness default worthy hundreds of millions from Three Arrows Capital. After Voyager’s bankruptcy, Sam Bankman-Fried and FTX claimed they could connection aboriginal liquidity to Voyager Digital’s customers successful the proceedings. Then they elaborate plans to acquisition Voyager and its assets for $1.4 billion. Soon after, the Texas State Securities Board (TSSB) objected to FTX’s bid, stating the authorities securities commissioner needed to “determine whether FTX US is complying with the law.”

Alameda’s lawyers accidental successful the filing that aft the steadfast paid Voyager successful crypto assets, it “had been incapable to find whether [Voyager] held a valid and effectual lien oregon information interest.” The plaintiffs’ lawyers see the transfers “preferential transfers” that were “avoidable.” Alameda insists it’s entitled to outgo for the transfers, which it says were “made to oregon for the payment of 1 oregon much of the defendants.”

What bash you deliberation astir Alameda Research’s suit against Voyager Digital and HTC Trading? Share your thoughts successful the comments conception below.

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