Voyager and its creditors reached a settlement agreement with FTX Alameda on a series of disputes

On February 23rd, The Voyager Unsecured Creditors Committee (UCC) said on Twitter: “UCC has reached a settlement agreement with Voyager and FTX/Alameda to effectively resolve the disputes between the two parties, which is an important step forward. The settlement agreement not only protects resources, but also provides direct substantive benefits to the creditors of Voyager. Alameda has agreed that it will (a) withdraw the USD 75 million claim against Voyager, or (b) These claims are dedicated to Voyager OpCo, which will benefit Voyager creditors. Alameda also agrees that (a) it will waive any right to distribution due to Alameda’s equity in Voyager, or (b) it will contribute such equity to Voyager OpCo. All claims that Voyager may make against FTX/Alameda in connection with the failed sales transaction are retained. FTX/Alameda will not oppose Voyager’s Chapter 11 plan. Both parties will participate in the rapid mediation of the claim of Voyager against FTX, the claim of priority of FTX against Voyager and other matters. “

Interpretation of this information:

The Voyager Unsecured Creditors Committee announced on February 23rd that it had reached a settlement agreement with FTX/Alameda and Voyager to resolve disputes between the two parties. The agreement provides direct benefits to Voyager creditors and protects resources. Alameda has agreed to withdraw its $75 million claim against Voyager or dedicate the claim to Voyager OpCo for the benefit of Voyager creditors. Additionally, Alameda will waive any right to distribution due to its equity in Voyager or contribute such equity to Voyager OpCo. Voyager will retain all claims against FTX/Alameda in connection with the failed sales transaction. FTX/Alameda will not oppose Voyager’s Chapter 11 plan, and both parties will participate in rapid mediation of Voyager’s claim against FTX, FTX’s claim of priority against Voyager, and other matters.

Interpretation:

The statement from The Voyager Unsecured Creditors Committee (UCC) announces that the committee has settled disputes between FTX/Alameda and Voyager. The UCC considers the settlement to be a significant step forward due to the direct benefits that it provides to Voyager creditors and the protection of resources. Alameda has agreed to withdraw its $75 million claim against Voyager or dedicate the claim to Voyager OpCo for the benefit of Voyager creditors. In addition, Alameda has waived any right to distribution due to its equity in Voyager or contributed such equity to Voyager OpCo. Meanwhile, Voyager will retain all claims against FTX/Alameda in connection with the failed sales transaction. FTX/Alameda will not oppose Voyager’s Chapter 11 plan, and both parties will participate in rapid mediation of Voyager’s claim against FTX, FTX’s claim of priority against Voyager, and other matters.