<\/p>\n
United States officials want to remove a provision included in bankrupt lender Voyager Digital\u2019s plan to sell its digital assets to crypto exchange Binance.US that would prevent them from legally pursuing anyone involved with the sale.\u00a0<\/p>\n
In a motion filed on March 14 in a New York Bankruptcy Court, U.S. Trustee William Harrington and other government attorneys argued: \u201cthe court improperly exceeded its statutory authority” in approving a the pardoning.<\/p>\n
They requested the court’s approval of the sale be delayed for two weeks to allow them to file an appeal.<\/p>\n
\nTomorrow just got interesting. #Voyager<\/a> #VGX<\/a> #Binance<\/a> #Bankruptcy<\/a> #DOJ<\/a> pic.twitter.com\/23bqIWpX2M<\/a><\/p>\n
\u2014 VGX Heroes (@VGX_Heroes) March 15, 2023<\/a><\/p><\/blockquote>\n
The provision protects those involved in carrying out the sale from being held personally liable for its implementation, which the court approved on March 7 after it was found that 97% of Voyager customers favored the plan, according to a Feb. 28 filing.<\/p>\n
While U.S. officials are not objecting to other parts of the proposed sale, they argue the provision would impede the government’s \u201cability to enforce its police and regulatory powers.\u201d<\/p>\n
\nNotice of Expedited Motion for Stay Pending Appeal filed by US Department of Justice in @investvoyager<\/a> Bankruptcy<\/p>\n
Looks like the exculpation provisions (legal protections for certain individuals) is the main thing holding up the dealhttps:\/\/t.co\/a40FyPcoLa pic.twitter.com\/zplip3eJob<\/a><\/p>\n