4 ms·
What a surprise! /s But on a more serious note, how will the money stored in the "FDIC-insured" omnibus accounts handled, assuming that the Chapter 11 bankrupt
by zinekeller 4y ago
What a surprise! /s
But on a more serious note, how will the money stored in the "FDIC-insured" omnibus accounts handled, assuming that the Chapter 11 bankruptcy becomes a Chapter 7 bankruptcy case?
- belltaco 4y agoIt's not FDIC insured against Voyager failing, it's only insured against Contintental Bank failing. Continental Bank hasn't failed, so it will be treated like any other asset that Voyager has.
- jeromegv 4y agoIt was listed as an asset on their balance sheet, likely to be distributed the same way the rest of the assets will be. And in case anyone is confused, none of that was FDIC insured. Only if the Metropolitan bank was to shut down would the FDIC reimburse anything.
- deleted 4y ago[deleted]