FTX creditors: Other lenders after Voyager may also become targets of loan withdrawal actions

ChainCatcher news, FTX creditors cited court documents in a tweet stating that the New York law firm Sullivan & Cromwell (S&C) hinted that other lenders may also become targets of avoidance actions after Voyager, referring to such lenders as "branch funds" that intentionally disregard the consequences of lending to Alameda. "The same reasoning applies to Genesis, where there may be $2.5 billion in loan transfers."

It is reported that Alameda Research is seeking to recover approximately $446 million from the bankrupt cryptocurrency lending platform Voyager, arguing that these loans are so-called preferential transfers and demanding the return of the funds.

ChainCatcher notes that avoidance actions refer to lawsuits initiated by the debtor or other property representatives aimed at reversing certain transfers made by the debtor. (source link)