July 12, 2022
Voyager Digital Ltd. (TSX:VOYG), a publicly-traded cryptocurrency platform, had its Chapter 11 proceedings recognized under the CCAA on July 12. The company is incorporated and has its registered office at a law firm in British Columbia. Its subsidiaries in the US operate a cryptocurrency brokerage and custodial and lending services. The company maintains that the centre of its main interests is in the US. The company's request for a recognition order was unopposed, save and except with respect to the question of whether the Chapter 11 proceedings are foreign main or non-main proceedings. Certain investors and a proposed representative plaintiff in a recently commenced proposed class action in Ontario each advised that they required some additional time to formulate their position and file submissions on the issue, so the Court's determination on this question was adjourned to July 19. A&M was appointed information officer. Counsel is Fasken for the company, Aird & Berlis for certain investors, Siskinds for the proposed representative plaintiff and Blakes for the information officer.
By Dina Milivojevic