The U.S. government has allowed the majority of the Voyager-Binance.US sale deal to proceed, according to court filings made on Wednesday. The agreement means that the bulk of Binance.US's $1 billion deal to purchase assets of the bankrupt crypto lender can go ahead, despite concerns that the contract's fine print would pardon breaches of tax or securities law.
The April 19 filing proposes that, until an appeal is settled, those contentious “exculpation provisions” should remain on hold, but not the remaining elements of the deal.
The move comes after the deal was approved by Bankruptcy Judge Michael Wiles in March. The bankrupt company’s lawyers say they’re worried that, once a four-month deadline expires, Binance.US could pull out of the deal, which would impose an extra $100 million loss on the estate.
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