On February 2, 2023, Dallas Mavericks owner and billionaire Mark Cuban will testify in the proceedings brought by the creditors of the bankrupt lender Voyager Digital.
The U.S. District Court for the Southern District of Florida denied the defendant’s motion to bifurcate the discovery process into two hearings. According to the ruling, Cuban must produce the documents in full at a single hearing.
Two Dallas Mavericks employees were ordered to testify by February 23. The plaintiffs must complete this procedure by January 24. The court required them to provide evidence in the case by the close of business on January 13.
The suit, filed in August 2022 by the Moskowitz law firm, accuses Cuban of promoting unregistered crypto products from Voyager Digital and participating in a Ponzi scheme.
According to the plaintiffs, the billionaire repeatedly distorted information about the firm and described it as ‘as close to risk-free as possible in cryptography’.
In October 2021, Voyager Digital announced that it had signed a five-year partnership agreement with the ‘Dallas Mavericks’.
On July 5, 2022, the company filed for bankruptcy under Chapter 11 of the U.S. Bankruptcy Code. At that time, it reported total liabilities in the range of $1 billion to $10 billion.
In September, FTX won the auction to sell Voyager Digital’s assets, offering about $1.4 billion. However, after the crash of the Bitcoin exchange in November, the crypto broker said it was willing to consider offers from other buyers.
In the same month, Binance CEO Changpeng Zhao confirmed that the company’s U.S. subsidiary would participate in a new auction to buy the creditor’s assets.
Earlier, on December 19, Voyager Digital said that Binance.US offered the highest price ($1.022 billion) for the assets.
In January 2023, representatives of the crypto broker described the criticism of the deal with the exchange’s unit by Alameda Research and U.S. regulators as ‘hypocrisy and impudence’.
Follow ForkLog’s Bitcoin news on our Telegram — cryptocurrency news, prices and analytics.