Eight hours of testimony by a U.S. judge and creditors on the broker’s proposal to sell assets to Binance.US took place on Thursday. Judge Michael Wiles has yet to rule on the restructuring agreement. The hearing will take place Friday in the U.S. District Court for the Southern District of New York. Bankruptcy court proceeds.
The restructuring plan was approved by 97% of voting creditors, although only 6% of Voyager creditors actually voted, lawyers said. According to a lawyer for Voyager debtors, more than 167,000 Voyager customers have registered on the Binance.US platform. In addition, the US Securities and Exchange Commission and New York regulators opposed the restructuring plan.
In addition, at the hearing site, Mark Renzi, managing director of Berkeley Research Group, and Timothy Pohl, independent director of Voyager Digital, had a commotion in court, and the impulsive behavior of creditor Alah Shehadeh forced Wiles to suspend the hearing.