V Voyager Digital allowed to return $270 million to Metropolitan Bank

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V Voyager Digital allowed to return $270 million to Metropolitan Bank

The Wall Street Journal reported on August 4 that Voyager Digital was allowed to return $270 million deposited with Metropolitan Commercial Bank.

According to the report, Judge Michael Wiles ruled that Voyager had a sufficient basis to allow its customers access to their funds at the bank.

The court had asked the court to honor withdrawals from its For Benefit of Customers FBO account with Metropolitan bank. The bank had also filed a motion that supported Voyager Digital's request to honor these withdrawals.

Voyager revealed that it had received better buyouts than the one offered by FTX.

The firm said as many as 88 parties have shown interest in buying out the company, and that it is in active discussions with over 20 of them.

Voyager said that several offers are higher and better than AlamedaFTX's proposal. Joshua Sussberg, the Voyager Counsel, told the court that the offer from FTX is the lowest the firm has received.

There is no more information about the other bids.

FTX had said its offer for Voyager was the best for its customers - a view countered by the distressed company.

Voyager described FTX's offer as a low-ball bid that only benefits AlamedaFTX and doesn't offer full value for customers.

The firm sent a cease and desist letter to AlamedaFTX over the inaccurate public statements it has been making about the bid.

The customers have voiced their concerns through letters to the court and social media platforms, according to the lender.

Some concerns have been about whether or not Voyager committed fraud, cash withdrawals, and if there are interested parties who want to acquire the firm.