Beleaguered crypto investment firm Alameda Research is suing bankrupt crypto lender Voyager Digital in an effort to recover loan repayments FTX made before it collapsed in November.
Attorneys handling the bankruptcy case for FTX and Alameda sued Voyager for $445.8 million in a Delaware court on January 30.
While both companies filed for bankruptcy in 2022, Voyager’s Chapter 11 filing came four months earlier, in July. After Voyager Chapter 11, the crypto lender demanded repayment of all outstanding loans to FTX and its affiliated investment firm Alameda Research.
According to the FTX attorneys who filed the return on Alameda’s behalf, these loan repayments are eligible for recovery since they were made so close to his own bankruptcy in November.
FTX claims it paid Voyager $248.8 million in September and $193.9 million in October. The exchange also made a $3.2 million interest payment in August, according to the court. filings.
FTX acknowledged the allegations that Alameda used FTX client deposits for its venture investments, but added that Voyager and other crypto lending firms were also complicit in “knowingly or recklessly” funneling client funds into Alameda with “little or no due diligence.” stated:
“Voyager’s business model was that of a feeder fund. She solicited retail investors and invested their money with little to no due diligence in cryptocurrency mutual funds like Alameda and Three Arrows Capital.”
The embattled cryptocurrency exchange hopes to reuse the claimed funds to pay off some of its creditors.
FTX had planned to buy Voyager to get out of bankruptcy before its collapse in November.
Related: What tokens could FTX launch on the market?
On the other hand, FTX has asked the court to exclude two of its Turkish subsidiaries from bankruptcy proceedings.
in one movement archived On January 27, the company requested the exclusion of FTX Turkey and SNG Investments because it believes that US courts have no jurisdiction in the country and clients had already launched private lawsuits against the company.
“The orders issued by this Court have no legal or practical effect in Türkiye and the Debtors have no reason to believe that the Turkish government will comply with the orders of this Court,” the document states.
