Source: blockchain.news
Lawyers representing insolvent cryptocurrency broker Voyager Digital have issued subpoenas demanding information about former FTX CEO Sam Bankman-Fried and other FTX and Alameda Research officials.
According to the February 6 filing, the subpoenas are very broad in scope, and Voyager’s attorneys are requesting copies of all documents and communications that may have taken place between the FTX companies and the Securities and Exchange Commission or Department of State. of Justice. .
In addition to a host of other documents, the lawyers demanded information about Alameda’s and Voyager’s loan portfolios, as well as FTX’s financial status before and after the company filed for bankruptcy on November 11.
The other executives ordered to hand over the necessary material by February 17 include a former Alameda CEO named Caroline Ellison, FTX co-founder named Gary Wang and FTX head of product named Ramnik Arora. Each of these people received a summons.
Voyager and Alameda have extensive financial relationships, and Alameda is now trying to recover the $446 million it has already returned to Voyager. He claimed in a document filed Jan. 30 that since he had repaid Voyager within 90 days of filing for bankruptcy, he had a legal right to “recover” the money for the benefit of his creditors.
After Alameda made an offer for Voyager’s assets that it failed to meet, costing Voyager $100 million and making Alameda’s claim subordinate to those of its other creditors, Voyager responded by stating that its creditors had suffered “substantial damage.” ” as a result of the Alameda lawsuit. behavior. Voyager made this claim in its lawsuit against Alameda.
Meanwhile, according to a story published on February 7 by Law360, US bankruptcy judge Michael Wiles said he would appoint a fee examiner to investigate professional costs associated with Voyager’s Chapter 11 case.
Wiles is said to have asserted that the professional fees spent in the bankruptcy proceeding were higher than he had expected, and the justification provided by the US Trustee apparently convinced him that a fee examiner would be advantageous.
Wiles did note, however, that an examiner may end up costing the estate more than it might save in other professional expenses, and suggested capping the examiner’s own fees to prevent this from happening.
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