On Monday, Alameda Research Ltd. filed a authorized grievance in opposition to Voyager Digital LLC and HTC Trading Inc. within the U.S. chapter courtroom. The grievance alleges the defendants acquired preferential transfers of property from Alameda Research and the plaintiffs are looking for to get well roughly $445.8 million from Voyager and HTC.
Legal Battle Erupts Over Crypto Asset Transfers Reportedly Made by Alameda Research
A newly filed grievance within the FTX chapter proceedings exhibits Alameda Research, the defunct quantitative buying and selling agency created by Sam Bankman-Fried (SBF), is looking for near $446 million from bankrupt alternate Voyager Digital and HTC Trading. Lawyers for Alameda declare the corporate paid off excellent loans after Voyager filed for chapter safety in July. The grievance additionally claims the transfers are recoverable as an administrative precedence beneath sections 503 and 507 of the U.S. Bankruptcy Code.
“The collapse of Alameda and its affiliates amid allegations that Alameda was secretly borrowing billions of FTX-exchange assets is widely known,” the submitting particulars. “Largely misplaced within the (justified) consideration paid to the alleged misconduct of Alameda and its now-indicted former management has been the function performed by Voyager and different cryptocurrency ‘lenders’ who funded Alameda and fueled that alleged misconduct, both knowingly or recklessly,” the grievance provides.
When Voyager filed for chapter safety in July, it cited a mortgage default price tons of of hundreds of thousands from Three Arrows Capital. After Voyager’s chapter, Sam Bankman-Fried and FTX claimed they may provide early liquidity to Voyager Digital’s clients within the proceedings. Then they detailed plans to buy Voyager and its property for $1.4 billion. Soon after, the Texas State Securities Board (TSSB) objected to FTX’s bid, stating the state securities commissioner wanted to “determine whether FTX US is complying with the law.”
Alameda’s attorneys say within the submitting that after the agency paid Voyager in crypto property, it “had been unable to determine whether [Voyager] held a valid and effective lien or security interest.” The plaintiffs’ attorneys contemplate the transfers “preferential transfers” that had been “avoidable.” Alameda insists it’s entitled to fee for the transfers, which it says had been “made to or for the benefit of one or more of the defendants.”
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