Benzinga CEO Was Among Voyager’s Largest Creditors, Court Docs Show

Benzinga CEO was among Voyager’s biggest creditors as the court documents show and we are reading more about it in today’s latest cryptocurrency news.

Jason Razcnik, the Benzinga CEO wrote on Twitter a few days before Voyager filed for bankruptcy and added:

“It’s a great app and does have loyal users.”

Raznick has been named to the unsecured credit committee in the Voyager Digital bankruptcy case and in the chapter 11 bankruptcy proceedings, the creditors often consist of people and companies that have the biggest unsecured claims against the debtor like Voyager Digital in this case. One of the committee’s responsibilities is to create a plan for how the business will get reorganized without which the case can’t be concluded or even decide if the company should be liquidated. The virtual court hearing will determine how long customers and creditors have to submit proof of the claims against the companies. The parties that want to participate have until July 28 to file the comments in writing to the court.

The US Bankruptcy Judge Michael Whiles admitted to a few of attorneys from other jurisdictions to represent unsecured creditors which are being heard in the Southern District of New York. The judge even approved the attorney Paul R Hage to represent Raznick whose media company was based in Detroit. The financial media publication has less than 200 employees and annual revenue of $15 million and $25 million. Hage added:

“I’d rather not comment on the case at this point. The committee was just appointed yesterday and is focused on interviewing and retaining professionals to help them maximize the recovery to the parties who they represent.”

Raznick wasn’t named as an unsecured creditor during the initial bankruptcy filing from Voyager Digital CEO but neither were a lot of the largest unsecured creditors of Voyager. Besides identifying the $75M claim from Alameda Research, the filing didn’t identify other unsecured creditors. The fact remained that Razcnik would have been appointed to the creditors’ committee unless he had one of the biggest claims against Voyager from $3 million to $10 million. Reznik has also been quiet about his involvement in the Voyager bankruptcy but the social media posts suggest he wanted to see the company survive.
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Voyager Digital CEO Steve Ehrlich commented a day after Celsius announced tht it froze customer withdrawals to stabilize liquidity and he made a statemetn that Voyager ended the partnership with Celsius:

“Our platform is working just as normal. Our partnership with Celsius ended a while ago, so our customers’ assets are safe and we’re processing everything as normal. That relationship dissipated over the last few months and we have very little [to] no customer assets at all, over at Celsius.”