Voyager Digital asserts that it has obtained judicial authorization to let consumers withdraw monies from FBO accounts at Metropolitan Commercial Bank.
Voyager has obtained judicial authorization to begin offering consumers withdrawal access. On July 1, the business first banned withdrawals and other trading activities. The company filed for bankruptcy on July 5 and commenced legal proceedings soon afterwards.
According to Voyager, the court has now accepted its plan to restore consumer access to cash. According to a previous declaration, this money is housed for the benefit of (the FBO) account at the Metropolitan Commercial Bank in New York.
With this clearance, the corporation will shortly begin processing cash withdrawals, according to a blog post published today.
On August 11, Voyager anticipates restricting access to the Voyager app to cash withdrawals only. Per day, users of the site can request ACH withdrawals of up to USD 100,000.
Customers will get an email with information about their holdings. Users have until October 3 to register a claim against the corporation if the statement and their account do not match.
Voyager states that consumers will get payments within five to ten business days and that it processes requests as rapidly as possible. It specifies that proposals must undergo a human examination, which includes fraud investigations and account reconciliation. The exact date will also rely on the banks of the users.
Voyager has revealed that it is in the process of reorganising its business. Today, the firm said it is “pursuing a separate restructuring procedure and a possible sale of the company.”
It was said that the court had authorised the bidding processes for the company’s sale. It noted that offers must be submitted by August 26 and that a sale hearing would occur on September 8.
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