BinanceUS, the US arm of Binance, is dealing with the lawsuit, although it wants to buy Voyager’s assets.
District Judge Jennifer Rearden suspended the one billion dollar deal between BinanceUS and Voyager. Judge Jennifer Rearden said she would speed up the appeals process while canceling the agreement between the two companies.
Binance US Stumbles In Case To Take Voyager Assets
A New York judge said in a statement that the U.S. government has a “significant litigation on the merits” in Binance’s breach of a $1 billion deal to buy the assets of bankrupt crypto lender Voyager.
District Judge Jennifer Rearden said she would try to act quickly to resolve a dispute, given that delays could cost $10 million a month.
In early March, US Bankruptcy Judge Michael Wiles approved the sale. However, this week Rearden said he will suspend the sale while the US Attorney General considers objections that the contract effectively immunizes Voyager by clearing it of tax or securities law violations.
Rearden thinks the government’s arguments have not been completely refuted by Voyager and his creditors.
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