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Creditors in Voyager’s bankruptcy were looking at about a 60 cents on the dollar return without a buyout and about 75 cents on the dollar return if FTX could ha
by webinvest 4y ago
Creditors in Voyager’s bankruptcy were looking at about a 60 cents on the dollar return without a buyout and about 75 cents on the dollar return if FTX could have followed through on their business and accounts buyout, IIRC.
Voyager had only 3 creditors so they weren’t well diversified. When one of their creditors eventually went belly-up, they predictably lost about a third of their holdings.
- christiangenco 4y agoAre Voyager's individual creditors getting 60% of their money back or does bankruptcy only pay out to the largest creditors?
- webinvest 4y agoThey’re all account holders so everyone is entitled to a proportional slice of the remaining pie. 60% regardless for both the little man and the fat cat. On the other hand, I don’t know if people who retain a class action lawyer specializing in this case get special treatment or not.