The Federal Commerce Fee (FTC) has moved the New York Southern District Court docket to enter a proposed Order for Everlasting Injunction, Financial Judgment, and Different Reduction towards Voyager Digital. The related paperwork had been filed with the Court docket on November 22, 2023.
Entry of the Stipulated Order would finish the litigation towards Voyager Digital, LLC, Voyager Digital Holdings, Inc., and Voyager Digital Ltd. Litigation towards Defendant Stephen Ehrlich and Reduction Defendant Francine Ehrlich is ongoing.
In line with the proposed order, judgment within the quantity of $1,650,000,000 is entered in favor of the Fee towards Company Defendants, collectively and severally, as financial aid. Company Defendants’ legal responsibility for this judgment shall be joint and several other with another Defendants to the extent subsequently ordered.
The Debtor Defendants is not going to object to allowance of Proof of Declare No. 12033 filed by the FTC towards Voyager Digital, LLC and Proof of Declare No. 12032 filed by the FTC towards Voyager Digital Holdings, Inc. within the Chapter Case as common unsecured claims within the quantity of $1,650,000,000.
“Company Defendants” means Voyager Digital, LLC, Voyager Digital Holdings, Inc., Voyager Digital Ltd., and their successors and assigns.
“Debtor Defendants” means Voyager Digital, LLC, Voyager Digital Holdings, Inc., and Voyager Digital Ltd.
The proposed order additionally envisages that Company Defendants are completely restrained and enjoined from promoting, advertising and marketing, selling, providing, or distributing, or helping within the promoting, advertising and marketing, selling, providing, or distributing of any services or products that can be utilized to deposit, change, make investments, or withdraw property, whether or not straight or via an middleman.
It’s also proposed thatI Company Defendants, Company Defendants’ officers, brokers, workers, and attorneys, and all different individuals in energetic live performance or participation with any of them, whether or not appearing straight or not directly, in reference to selling or providing on the market any services or products are completely restrained and enjoined from misrepresenting or helping others in misrepresenting, expressly or by implication the advantages of Defendants’ services or products or another materials reality about Defendants’ services or products, akin to the entire prices; any materials restrictions, limitations, or circumstances; or any materials side of its efficiency, efficacy, nature, or central traits.
Voyager commenced a voluntary Chapter 11 course of in July 2022. As a part of this course of, the Firm and its major working subsidiaries filed voluntary petitions for reorganization below Chapter 11 within the U.S. Chapter Court docket of the Southern District of New York.