Find Mediators Near You:

Bankrupt crypto lender Genesis plans to seek mediation if creditor deal isn’t struck this week

Bankrupt crypto lender Genesis plans to seek mediation if creditor deal isn’t struck this week

Crypto lender Genesis filed for bankruptcy last Thursday, but its lawyers have been in negotiations with creditors and its largest borrower — parent company Digital Currency Group (DCG) — for more than two months.

And in bankruptcy court on Monday afternoon, lawyers for Genesis said a deal with creditors still hasn’t been reached and said if an agreement can’t be reached “within the next few days,” the firm is will ask the judge to appoint a mediator.

“We have a clear roadmap for this Chapter 11 case,” Genesis counsel Sean O’Neal said. “We’ve filed a plan, and that plan is confirmable on its face.”

Court documents filed the day after its bankruptcy petition show Genesis already had a restructuring plan drawn up, with hopes to sell its assets as soon as May. Genesis held $5.1 billion in liabilities in the weeks following its withdrawal freeze on Nov. 16, 2022.

Read the complete Article here.

Featured Mediators

View all

Read these next


Nine Ways for Counsel to Prepare for Mediation

Once the mediator and a date for mediation have been selected, the question then is how best to prepare for the mediation. Attorneys know how to prepare for trial: motions...

By Daniel Ben-Zvi

Mediation Music

Mediation is often likened to a dance, but it is much more complex, much like a symphony and the mediator is the conductor who helps it develops its own distinctive...

By Dena Schechter

(Instrumental) Reconciliation Without (authentic) Forgiveness (and Social Justice): A Recurrent Paradox in Political Conflicts

Please see the PDF of the complete article, attached below.After a conflict between communities or nations has been led to an ending phase, political reconciliation requires that both parties be...

By Ricardo Padilla