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Bankrupt crypto lender Voyager set to auction off its assets on Sept. 13

Bankrupt crypto lender Voyager is set to liquidate all its assets through an auction that is scheduled for Sept. 13.

Voyager announced on Sept. 7 that it had received multiplied bids from parties interested in buying up its assets.

The auction is scheduled to happen on Sept. 13, 2022, at the New York offices of Voyager’s investment bankers, Moelis & Company.

The bankruptcy court will deliberate on the outcome of the auction and look to approve the result on Sept. 29. Further adjustments may be made to the approval date if the court deems it necessary.

Potential bidders

Voyager in an Aug. 4 filing claimed that about 88 parties were interested in buying up its assets, of which 22 parties were in active discussion with the firm.

Not much is known about the interested parties as many of them had signed non-disclosure agreements (NDAs) with Voyager.

However, leading exchanges FTX and Binance are said to be actively pursuing the auction process.

Voyager had clapped back at FTX’s offer describing it as a low-ball bid. In the filing, Voyager said that several offers on its table are “higher and better than AlamadeFTX’s proposal.”

Consequently, the struggling crypto lender sent AlamedaFTX a letter asking it to desist from its offer claims which are allegedly inaccurate.

Customers’ claim process

Voyager added in the auction announcement that once the auction process is completed, customers’ would reclaim their assets.

The firm had communicated with customers on Aug. 24 detailing the guideline they should follow to be able to reclaim their crypto assets.

All customers had until Oct. 3, 2022, to review Voyager’s record of their indebted assets. Customers with a dispute are required to submit proof of claim before the bar date to have it resolved.

Once the winning bidder is announced, customers will receive further details about the claim process.

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