A bankruptcy court has ruled that crypto broker Voyager Digital can pay more than 30 employees a total of $1.6 million in employee retention bonuses. Reported by CoinDesk.

Judge Michael Wiles also agreed to keep confidential the names and positions of company employees who qualify for bonuses.

In August, the company filed a corresponding petition, which was opposed by creditors. The US Board of Trustees, the Department of Justice’s bankruptcy enforcement agency, also objected to the closure of these awardees.

Voyager legal representative Michael Slade of Kirkland & Ellis said during the hearing that the broker’s senior management was not involved in this program.

No creditor, shareholder or other relevant person objected to the proposal to close the data,” he said.

According to him, the company disclosed the information to all organizations that requested it.

Slade explained that Voyager initially applied for a $1.9 million bonus to 38 employees, but some had already resigned.

The lawyer said the company plans to take cost-cutting measures that will save $4.6 million annually.

This program overturned the objections of Attorney Darren Azman of McDermott Will & Emery, the unsecured creditors committee. Voyager cited reducing costs as one of the main issues.

During the hearing, the judge confirmed that the company did not mention senior executives in its application for “withholding bonus” payment.

Recall that on July 5, the crypto broker filed for bankruptcy. The company announced its total debts in the range of 1 billion to 10 billion dollars.

Read ForkLog bitcoin news in our Telegram – cryptocurrency news, courses and analysis.