The company says in a statement that it has “filed voluntary petitions for Chapter 11 protection to implement restructuring” in the US Bankruptcy Court of the Southern District of New York.
“This comprehensive reorganisation is the best way to protect assets on the platform and maximise value for all stakeholders, including customers,” says Stephen Ehrlich, CEO of Voyager.
“The Chapter 11 process provides an efficient and equitable mechanism to maximise recovery.”
The reorganisation plan, subject to change and court approval, would help resume account access and return value to customers, the firm says.
