1 year ago
Defunct crypto hedge money Alameda Research has sued bankrupt crypto lender Voyager Digital for $445.8 million.
Alameda is trying to retrieve the indebtedness repayments it made to Voyager successful the 90 days preceding its ain bankruptcy, according to a court filing connected Jan. 30.
Alameda filed for bankruptcy on with its sister institution FTX successful November 2022. Voyager had filed for bankruptcy successful July.
The suit filed successful the Bankruptcy Court for the District of Delaware by lawyers of FTX alleges that Voyager “fueled” the alleged misuse of lawsuit funds by Alameda — “either knowingly oregon recklessly.”
The suit stated:
“Voyager’s concern exemplary was that of a feeder fund. It solicited retail investors and invested their wealth with small oregon nary owed diligence successful cryptocurrency concern funds similar Alameda and Three Arrows Capital.”
It added that Voyager lent cryptocurrencies worthy “hundreds of millions of dollars” to Alameda successful 2021 and 2022.
After its bankruptcy filing, Voyager demanded repayment of each its loans to the hedge fund, adjacent earlier maturity dates, the suit stated.
Alameda paid $3.2 cardinal successful involvement to Voyager successful August 2022, according to the tribunal filing, The steadfast besides paid Voyager $248.7 cardinal successful September 2022 and $190.5 cardinal successful October 2022 arsenic a indebtedness repayments and payments of $3.2 cardinal successful indebtedness fees to Voyager.
Alameda has since repaid each loans to Voyager successful full, according to the tribunal filing.
As per the bankruptcy laws, these payments are eligible to beryllium clawed backmost since they were made adjacent to the bankruptcy of Alameda, the suit states. The steadfast aims to usage immoderate reclaimed funds to wage backmost its creditors.
The station Alameda Research sues Voyager for $446M to retrieve indebtedness repayments appeared archetypal connected CryptoSlate.
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