Voyager, FTX US Notify Court of Termination of Asset Purchase Agreement

Voyager and FTX US have notified the court about the temination of their asset purchase agreement, which comes about a month after FTX and a number of its subsidiaries filed for Chapter 11 bankruptcy in Delaware.

Both parties agree to terminate the Asset Purchase Agreement in a document they submitted to the New York Southern Bankruptcy Court since after they have carried on arm's length discussions concerning the Asset Purchase Agreement in light of the FTX Bankruptcy.

According to their statement, Voyager will be entitled to continue to retain the $5 million good-faith deposit provided by WRI to Voyager pursuant to the terms of the Bidding Procedures, which is subject to the rights, claims and defenses of WRI and the Debtors in all aspects.

"Each Party reserves any and all rights, claims and defenses against the other Party, including without limitation, arising out of termination of the Asset Purchase Agreement and the Deposit", the parties stated in the document. 

Most recently, US prosecutors has investigates FTX founder​ for suspected fraud. The group and its founder now face scrutiny from regulators and prosecutors in the US and overseas.