May 5 (Cointime) - The Voyager Official Committee of Unsecured Creditors has announced that they are in the final stages of finalizing Liquidation Procedures. These procedures are required to be filed before the Plan can go into effect. The Liquidation Procedures will provide details on the process for creditors to receive distributions.
After the Liquidation Procedures are filed, parties will have 10 days to object. If no objections are filed, Voyager intends to go "effective" with the plan at that time. However, if an objection is filed, the Court will hold a hearing to consider the objection before the plan can go effective.
Voyager Digital plans to begin returning funds to creditors as part of its bankruptcy proceedings in the coming weeks. The Voyager Official Committee of Unsecured Creditors wrote:
“Voyager is … finalizing everything internally that is necessary to make distributions to creditors. We are hopeful that initial distributions will begin within the next few weeks.”
2/ The Liquidation Procedures will provide details on the process for creditors to receive distributions. After the Liquidation Procedures are filed, parties will have 10 days to object.
— Voyager Official Committee of Unsecured Creditors (@VoyagerUCC) May 4, 2023
Read the full thread:
3/ If no objections are filed, Voyager intends to go "effective" with the plan at that time. If an objection is filed, the Court will hold a hearing to consider the objection before the plan can go effective.
4/ Voyager is also finalizing everything internally that is necessary to make distributions to creditors. We are hopeful that initial distributions will begin within the next few weeks.
All Comments