(Bloomberg) -- Alameda Research Ltd., Sam Bankman-Fried’s defunct crypto trading house, is seeking to claw back about $446 million from bankrupt digital asset lender Voyager Digital Ltd.
The funds are related to cryptocurrency loans Voyager provided to Alameda before Voyager filed for bankruptcy in July. Alameda repaid the loans shortly before its own bankruptcy filing, so it’s trying to get the funds back using bankruptcy rules designed to ensure some creditors aren’t favored over others, court papers show.
Alameda may uncover additional payments it wants to recover while the lawsuit unfolds, its lawyers said in court papers.
Voyager and Alameda are deeply intertwined. When Voyager filed for bankruptcy, court papers showed Alameda lent to Voyager, borrowed from it and was one of its largest shareholders. FTX, the crypto exchange portion of Bankman-Fried’s empire, was slated to buy Voyager out of bankruptcy prior to the exchange’s November implosion.
“Largely lost in the (justified) attention paid to the alleged misconduct of Alameda and its now-indicted former leadership has been the role played by Voyager and other cryptocurrency ‘lenders’ who funded Alameda and fueled that alleged misconduct, either knowingly or recklessly,” lawyers for Alameda wrote in its complaint, filed Monday in bankruptcy court.
A representative for Voyager didn’t immediately respond to a request for comment.
The case is Alameda Research Ltd. v. Voyager Digital LLC et al, 23-50084, U.S. Bankruptcy Court for the District of Delaware.
(Updates with additional information throughout.)
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