In the FTX Group’s original filing, the firm claimed that Voyager had failed to do due diligence before loaning money to Alameda

After the FTX Group unceremoniously tried to recoup the repayment of Alameda’s loan to Voyager, lawyers of the struggling crypto platform have countered with a two-part salvo of legal requests.

In the original filing of FTX Group, the company asserted that Voyager had failed to do due diligence before lending money to Alameda. As such, the filing essentially hints that Voyager should have known better than to provide Alameda money, which would justify the trading arm of FTX not having to pay back the loan anymore.

In return, Kirkland & Ellis – lawyers representing Voyager Digital – filed a list of subpoenas for information on several topics, including FTX’s supposedly self-serving lowball of the firm buyout offer.

Moreover, Ramnik Aurora – FTX’s head of product – was also served with a subpoena, in spite of previously being largely ignored by the court proceedings.

However, other subpoenas were served against FTX as well.

On February 18, Voyager Digital’s Unsecured Creditors Committee filed subpoenas against the FTX Group.

Other previously untouched members of the FTX Group’s C-suite who were also served by Kirkland & Ellis on behalf of Voyager creditors – mentioned Samuel Trabucco, the former co-CEO of Alameda. Trabucco retired from his position in August 2022, and elected to become an advisor to the company.

The second batch, unlike the earlier one, which was more of a large scale information-collecting exercise, which centres on FTX’s attempted buyout of Voyager Digital following the latter’s bankruptcy. Voyager asserts it was not even a reasonable buyout bid, with the offer being made more to gather publicity for FTX than anything else.

It is a low-ball offer dressed up as a white knight rescue. AlamedaFTX primarily recommends a liquidation with FTX as the liquidator. The ‘fair value’ of Voyager’s crypto currency assets and loans is subject to negotiation with AlamedaFTX. It is created to garner publicity for itself instead of value for customers of Voyager.

Finally, Binance.US appears to have won the bidding for Voyager Digital’s remaining assets. If the deal goes through, Voyager customers will recoup 51 per cent of their funds, subject to further development.

The depositions asked for will be served remotely over Zoom beginning on February 27 and continue for as long as is required.