The court allowed Voyager to pay employees $1.6 million in "retention bonuses"


Cryptobroker Voyager Digital can pay more than 30 employees a total of $ 1.6 million in bonuses to retain staff, the bankruptcy court ruled. 

Judge Michael Wiles also agreed to classify the names and positions of employees of the company who can receive bonuses.

In August, the firm filed a corresponding petition, which was opposed by creditors. The Office of Trustees of the United States, the bankruptcy supervisory authority from the structure of the Ministry of Justice, also objected to the closure of these award recipients.

Voyager’s legal representative, Michael Slade of Kirkland & Ellis, assured during the hearing that the broker’s top management was not involved in this program.

"No creditor, shareholder or other interested person objected to the proposal to close the data," he said.

According to him, the company disclosed the information to all organizations that requested it.

Slade clarified that Voyager initially applied for the payment of $1.9 million in bonuses to 38 employees, but some of them have already quit.

The lawyer said that the company plans to take cost-cutting measures that will lead to annual savings of $4.6 million.

This program removed objections from the representative of the committee of unsecured creditors, attorney Darren Azman of McDermott Will & Emery. He called the reduction of Voyager costs one of the main problems.

During the hearing, the judge confirmed that the company’s application for payment of "retention bonuses" did not mention top managers.

Recall that on July 5, the crypto broker filed for bankruptcy. The company indicated total liabilities in the range of $1 billion to $10 billion.

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