{"id":34253,"date":"2022-08-24T14:56:03","date_gmt":"2022-08-24T18:56:03","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=34253"},"modified":"2022-08-24T14:56:06","modified_gmt":"2022-08-24T18:56:06","slug":"crypto-lender-voyager-to-pay-employees-retention-bonuses","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/crypto-lender-voyager-to-pay-employees-retention-bonuses\/","title":{"rendered":"Crypto Lender Voyager To Pay Employees ‘Retention’ Bonuses"},"content":{"rendered":"\n

Judge Michael Wiles\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> also agreed that the names and jobs of the employees who might get the bonuses would be kept secret and paid by Crypto Lender Voyager.<\/p>\n\n\n\n
\"Crypto

Crypto Lender Voyager To Pay Employees ‘Retention' Bonuses<\/figcaption><\/figure>\n\n\n\n

A federal judge said that crypto lender Voyager<\/a> Digital, filing for bankruptcy, can pay $1.6 million to more than 30 employees as a “retention” award.<\/p>\n\n\n\n

Judge Michael Wiles also agreed to keep the names and titles of the employees who might get the bonuses secret.<\/p>\n\n\n\n

Voyager asked for permission earlier this month, but Voyager's organized creditors fought against the move on Friday. The U.S. Trustee's Office, which is a bankruptcy watchdog run by the Department of Justice<\/a>, also objected to the names and titles of the possible recipients being hidden. Its own filing suggested that these people might not be eligible for this type of bonus.<\/p>\n\n\n\n

“The senior management team is not involved in this program, and most of the time, information about these people is unavailable to the public. We see that neither a creditor, a shareholder, or anyone else with a stake in the business has argued against the motion to seal. The only people who asked for this information were the UCC [Official Committee of Unsecured Creditors] and the United States Trustee's office. No one who asked for the information has been kept from getting it “Michael Slade, a lawyer for Voyager from the firm Kirkland & Ellis, said during the hearing.<\/p>\n\n\n\n

An attorney with the U.S. Trustee<\/a>‘s office named Richard Morrissey called Voyager's worries “speculative.” He said that hundreds of customers had asked his office questions about the process, such as whether or not executives would get a bonus.<\/p>\n\n\n\n

Voyager had originally filed to pay $1.9 million to 38 employees, but Slade said that some of those employees have since left.<\/p>\n\n\n\n

Slade said that the company planned to take steps to cut costs in the next month, which would save $4.6 million a year.<\/p>\n\n\n\n

A lawyer from McDermott Will & Emery named Darren Azman represents the UCC. He said that one of the creditors' main concerns is lowering costs, but Voyager's annualized savings announcement addresses that concern.<\/p>\n\n\n\n

During the hearing, a creditor who said she lost more than $450,000 questioned the idea that Voyager's leaders could still get paid, but the judge said this wasn't part of the current motion.<\/p>\n","protected":false},"excerpt":{"rendered":"

Judge Michael Wiles also agreed that the names and jobs of the employees who might get the bonuses would be kept secret and paid by Crypto Lender Voyager. A federal judge said that crypto lender Voyager Digital, filing for bankruptcy, can pay $1.6 million to more than 30 employees as a “retention” award. Judge Michael […]<\/p>\n","protected":false},"author":39,"featured_media":34255,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[132,11176,8789],"class_list":["post-34253","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-crypto","tag-employee","tag-voyager"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/08\/image-192.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/34253","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=34253"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/34253\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/34255"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=34253"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=34253"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=34253"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}