Shingo Lavin, founder of Ethos and former chief innovation officer of Voyager Digital, has filed an objection to the restructuring plan proposed by the crypto broker.
The petition was filed in the Bankruptcy Court for the Southern District of New York (USA). The applicant is Emerald Ocean Ventures, an investment company run by Lavine with his father, Adam.
Lavin has written:
“We, the co-founders of Ethos, have put in place a restructuring plan that will provide greater recovery to creditors as part of the Voyager bankruptcy proceedings. We believe that we have not received adequate access and a fair opportunity. We sued today.”
Ethos is behind the development of the blockchain platform Bedrock. In 2019, Voyager bought the startup for $4 million. After the deal, Lavin took the CIO chair of the crypto broker and joined its board of directors. In February last year, he left the company due to “internal differences”.