New York Decide Michael Wiles of the District Court docket of the Southern District of New York has denied the U.S. Division of Justice’s (DOJ) enchantment to remain the $1 billion asset-sale plan between bankrupt crypto dealer Voyager Digital and Binance.US.
Throughout a Wednesday listening to on the DOJ’s movement to halt the order pending enchantment, Decide Wiles reiterated his approval of the plan on the premise that additional delay would hurt the pursuits of Voyager’s clients.
Decide Denies DOJ’s Enchantment Movement
Recall that the DOJ filed an enchantment movement on Friday, in search of to evaluate Decide Wiles’ approval of the Voyager-Binance.US plan barely 24 hours after the choose ruled in favor of the deal.
CryptoPotato reported yesterday that the U.S. lawyer for the Southern District of New York, Damian Williams, and U.S. trustee William Ok. Harrington, filed a supporting memorandum requesting a keep of the order pending the enchantment movement.
Williams and Harrington requested for a two-week keep so authorities would have sufficient time to kind out authorized points with Voyager. Nevertheless, Decide Wiles famous within the newest listening to that the length of the present keep, which elapses by March 20, is sufficient for another formalities.
The choose reiterated that the argument towards Voyager and Binance.US confirmed no irregularities within the asset-sale plan.
“As I defined in my Determination, the proof and argument earlier than me in the course of the affirmation listening to didn’t recommend there have been any illegalities in what the plan contemplated, and compelled a conclusion that the transactions might and may proceed,” the choose stated.
DOJ’s Enchantment Didn’t Talk about Cited Authorities: Decide
Moreover, Decide Wiles referred to the DOJ’s declare that the enchantment movement was more likely to succeed, disclosing that the federal government failed to debate the speculation that the order relied on.
“The Authorities contends that it’ll probably win on enchantment, however in making its arguments, the Authorities has not even mentioned any of the authorities that I cited, or the precise principle on which I relied,” Decide Wiles said.
The choose insisted that the DOJ’s papers exaggerated and mischaracterized his choice and the authorities he cited whereas counting on “straw man arguments.”
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