Last month, a federal judge temporarily stopped bankrupt Voyager Digital from completing a proposed $1.3 billion sale, allowing the US government more time to pursue appeals that challenge the legality of the deal.
The deal was first announced in December last year and received an initial court approval In January for a proposed $1 billion sale of its assets to Binance. However, the court had said it would seek to expedite a US national security review of the deal.
Voyager attorney Joshua Sussberg had then said that Voyager was responding to concerns raised over the holidays by the US Committee on Foreign Investment in the United States (CFIUS), an interagency body that vets foreign investments into US companies for national security risks. He had added that Voyager would address any issues that would lead CFIUS to oppose the transaction.
However, last month US district judge Jennifer Rearden in Manhattan ruled that the sale should be put on hold, overruling Voyager’s argument that a delay could cause Binance to back out of the deal entirely. This allowed the US government more time to pursue appeals that challenge the legality of the deal.
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