This article is republished with permission from CoinDesk.
The two bankrupt entities, crypto lender Voyager and crypto exchange FTX, have come to an interim agreement for a $445 million debt settlement, according to Wednesday's filing. together.
Alameda Research, the trading arm of FTX, filed a lawsuit in January seeking to recover some loan repayments made to Voyager before the bankruptcy filing. Under the agreement, Voyager will hold the disputed funds pending resolution by court order or final judgment.
In a filing in January, Alameda asked the court to award it "not less than $445.8 million (plus the value of any additional avoidable transfers of which Plaintiffs are aware" ") and any additional fees incurred.
Voyager assets will also continue to see another $5 million in deposits from FTX that cannot be used or distributed “until ownership of those deposits is determined in the New York Bankruptcy Court.” and determined by final and non-appealable agreement or judgment, including any appeal therefrom,” according to Wednesday's filing.
During Wednesday's court hearing, Voyager's lawyers said plans to sell assets to Binance's U.S. subsidiary are underway, with 97% of creditors voting in favor of the sale.
FTX's bankruptcy proceedings are continuing in Delaware courts.
