Voyager Digital Reveals Final Results of Customer Voting
- 97% of the customers, representing 98% of the total claims voted in favor.
- The company told that further details would be provided after Thursday’s court hearing.
Voyager Digital, the crypto brokerage company, declared the final results of the customer voting on the company’s Chapter 11 plan. The company announced that a majority of voters polled in favor of the company’s restructuring plan, under which some of its assets would be acquired by the crypto firm Binance US.
On March 1, Voyager Digital shared a Twitter thread, revealing that “97% of customers, representing 98% of the total claims, voted in favor”:
According to Tuesday’s filing, the customers are permitted to vote either supporting or opposing the company’s plan. The statement highlighted the intention of the Stretto Retention Order, claiming:
The Stretto Retention Order authorizes Stretto to assist the Debtors with, among other things, the service of solicitation materials and tabulation of votes cast to accept or reject the plan, distributing required notices to parties in interest, and receiving, maintaining, docketing, and otherwise administering the proofs of claim filed in the Debtors’ chapter 11 cases.
Notably, 98% of claims represented account holders possessing over $500 million worth of assets, while the unsecured claims represented customers holding $3 million worth of assets. Out of these $3 million worth of assets, $2.95 million represents the claims against TopCo and $40,000 against the holding company.
In a following tweet, Voyager Digital told that further details regarding the company’s plans and the effects of the customers’ poll would be communicated after the bankruptcy hearing on Thursday; the company would seek court approval for restructuring the plan.