As per the reports,on Tuesday bankrupt voyager received its initial court approval for a proposed sale of its assets to Binance US.
In addition,Voyager seeks to expedite a US national security review of the deal.
US Bankruptcy judge Micheal Wiles has approved Voyager to enter into the assets purchase agreement with Binance US,and also obtain creditor votes on the sale.
However,this is not being considered final until a court hearing takes place in the future.
Joshua Sussberg, Voyager’s attorney is responding to concerns that would lead US committee on foreign investment in the United States (CFIUS) to oppose the transaction.
Sussberg added, the deal includes $20 million cash payment and transfer of Voyager customers to Binance US. Also, customers can first withdraw money in July.
Voyager estimates that this deal will allow customers to recover 51% of the value of their deposits at the time Voyager filed for bankruptcy.
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