(Bloomberg) -- The US government and an arm of its Justice Department are appealing a bankruptcy judge’s order allowing Binance.US to buy Voyager Digital Ltd., court papers show.
This week, US Bankruptcy Judge Michael Wiles said he would give Voyager permission to try to close its sale to Binance.US as well as a related customer payout plan. The US and a DOJ unit that monitors bankruptcy court filed a notice of appeal of the approval in Voyager’s insolvency proceedings on Thursday.
The sale received push-back from regulators including the US Securities and Exchange Commission, which alleged parts of the deal and the plan violate federal law. Wiles criticized regulators for their objections and signed off on the plan.
“I cannot put the entire case into indeterminate deep freeze while regulators figure out whether they believe there are problems with the transaction and plan,” Wiles said in the hearing this week.
--With assistance from Suvashree Ghosh.
©2023 Bloomberg L.P.