FTX sister company Alameda Research sues Voyager Digital for $446M

Embattled crypto concern steadfast Alameda Research is suing bankrupt crypto lender Voyager Digital successful an effort to claw backmost indebtedness repayments FTX made earlier it collapsed successful November.

Lawyers managing the FTX and Alameda bankruptcy lawsuit sued Voyager for $445.8 cardinal successful a Delaware tribunal connected Jan. 30.

While some companies filed for bankruptcy successful 2022, Voyager's section 11 filing came 4 months earlier successful July. Following Voyager's Chapter 11, the crypto lender demanded repayment of each outstanding loans to FTX and its affiliate concern steadfast Alameda Research.

According to FTX lawyers filing connected behalf of Alameda, these indebtedness repayments are eligible to beryllium clawed backmost arsenic they were made truthful adjacent to their ain bankruptcy successful November.

FTX claims it paid Voyager $248.8 cardinal successful September and $193.9 cardinal successful October. The speech besides made a $3.2 cardinal involvement outgo successful August, according to the court filings.

FTX acknowledged allegations that Alameda utilized FTX lawsuit deposits for its risky investments but added that Voyager and different crypto lending firms were besides complicit, “knowingly oregon recklessly” funneling lawsuit funds toward Alameda with “little oregon nary owed diligence.” It 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.”

The embattled crypto speech hopes to repurpose immoderate reclaimed funds to repay immoderate of its creditors.

FTX had planned to bargain Voyager out of bankruptcy earlier its illness successful November.

Related: Which tokens could FTX dump connected the market?

In a abstracted development, FTX has asked the tribunal to exclude 2 of its Turkish subsidiaries from the bankruptcy proceedings.

In a motion filed connected Jan. 27, the institution has asked for the exclusion of FTX Turkey and SNG Investments arsenic it believes U.S. courts person nary jurisdiction successful the state and customers had already begun backstage claims against the company.

“The orders entered by this Court bash not person ineligible oregon applicable effect successful Türkiye and the Debtors person nary crushed to judge that the Turkish authorities volition comply with this Court’s orders,” the filing stated.