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.
This issue, which currently preoccupies people, goes back a long way. The evolution of technology, which has been ongoing for at least seven centuries, starting from the introduction of the...
By Robert BergmanFrom John DeGroote's Settlement Perspectives A sample Mediation Mind Map, available in .pdf format here. You’ve been there before. You’ve done your homework to prepare for the mediation, ready to...
By John DeGroote(This article was written about Jeff Thompson. It appeared in the Tweed Daily News on March 19. 2011 and was written by Ellisha Puglia.) FROM hairstyles to handshakes, non-verbal communication...
By Jeff Thompson
