The District Court of the Southern District of New York declined the United States government’s reasonings for halting the acquisition of bankrupt brokerage company Voyager by Binance.US.
According to Judge Michael Wiles, any protractions with the deal will harm the interests of Voyager’s former clients, who are waiting to return their funds.
The decision to deny the government’s motion came on March 15. In it, Judge Michael Wiles realleges his prior approval of Voyager Digital’s Chapter 11 bankruptcy plan, which suggests selling billions of dollars in assets to Binance.US in an effort to regain liquidity to pay back customers.
Thus, the Court denied the government’s appeal for a stay of the Confirmation order, i.e. an additional delay (in this case, for two weeks) of the bankruptcy plan realization.Read more on cointelegraph.com