{"id":486836,"date":"2022-08-22T16:28:09","date_gmt":"2022-08-22T13:28:09","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/voyager-creditors-oppose-1-9m-employee-retention-proposal\/"},"modified":"2022-08-22T16:28:09","modified_gmt":"2022-08-22T13:28:09","slug":"voyager-creditors-oppose-1-9m-employee-retention-proposal","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/voyager-creditors-oppose-1-9m-employee-retention-proposal\/","title":{"rendered":"# Voyager creditors oppose $1.9M employee retention proposal"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a38739e788ff\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a38739e788ff\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/voyager-creditors-oppose-1-9m-employee-retention-proposal\/#%E2%80%9D_Voyager_creditors_oppose_19M_employee_retention_proposal_%E2%80%9C\" >&#8221; Voyager creditors oppose $1.9M employee retention proposal  &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Voyager_creditors_oppose_19M_employee_retention_proposal_%E2%80%9C\"><\/span>&#8221; Voyager creditors oppose $1.9M employee retention proposal  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDgvY2YwNjc1NzAtYjM4ZS00M2EyLTg4YTctMGI1ODk0OGY4ZmVjLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-28d77a7a>Voyager Digital Holdings\u2019 committee of unsecured creditors has filed a motion to object to the firm&#8217;s proposal to keep its employees by paying them monetary awards for staying in the company.\u00a0<\/p>\n<p>On August 2, Voyager Digital filed a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.courtlistener.com\/docket\/63571949\/212\/voyager-digital-holdings-inc\/\">motion<\/a> to the United States Bankruptcy Court in the Southern District of New York to <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>rove the Key Employee Retention Plan (KERP) that aims to distribute $1.9 million to 38 key employees who were deemed to be very crucial to the operations of the exchange. <\/p>\n<p>However, the exchange\u2019s creditors disagreed with the proposal. In a motion <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.courtlistener.com\/docket\/63571949\/316\/voyager-digital-holdings-inc\/\">filed<\/a> on August 19, the creditors laid out their objections to the proposed KERP and its related relief grants. They wrote: <\/p>\n<blockquote><p>\u201cAt a time when thousands of creditors struggle to pay basic personal expenses due to the Debtors\u2019 flawed business model, the Debtors now seek to pay bonuses to their already well-compensated employees.\u201d<\/p><\/blockquote>\n<p>The creditors also argued that Voyager was unable to give enough reason to justify the retention plan. Additionally, the creditors said that there isn&#8217;t enough evidence given to show that the employees who were part of the retention plan are truly planning to resign. <\/p>\n<p>Apart from these, the filing made by creditors also noted that the current crypto winter allows the firm to hire from a pool of talent who are now available. \u201cGiven the recent reductions and layoffs across the industry, a bevy of recently-terminated professionals could fill their roles,\u201d they wrote. <\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Investors lament potentially lost \u2018millions\u2019 on Voyager bankruptcy<\/em><\/strong><\/p>\n<p>Earlier this month, billionaire Mark Cuban was sued for promoting Voyager products. A law firm filed a civil suit against Cuban and demanded a jury hearing for the case. The lawsuit alleged that Cuban used his experience to dupe investors into putting their life savings at Voyager. <\/p>\n<p>In July, the crypto exchange filed for bankruptcy, mentioning that the firm owes money to more than 100,000 creditors. According to the firm, this move is part of a recovery plan that aims to return value to its customers when implemented. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/voyager-creditors-oppose-1-9m-employee-retention-proposal\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Voyager creditors oppose $1.9M employee retention proposal &#8220; Voyager Digital Holdings\u2019 committee of unsecured creditors has filed a motion to object to the firm&#8217;s proposal to keep its employees by paying them monetary awards for staying in the company.\u00a0 On August 2, Voyager Digital filed a motion to the United States Bankruptcy Court in&#8230;<\/p>\n","protected":false},"author":1,"featured_media":486837,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDgvY2YwNjc1NzAtYjM4ZS00M2EyLTg4YTctMGI1ODk0OGY4ZmVjLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74894,74860,4978,70934],"class_list":["post-486836","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-blockchain","tag-cryptocurrency-exchange","tag-bankruptcy","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/486836","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=486836"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/486836\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/486837"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=486836"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=486836"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=486836"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}