![]() Genesis has said it plans to sell various assets at auction, and exit bankruptcy by May 19. Bankruptcy Judge Sean Lane granted a series of "first-day" motions by Genesis, including to pay employees and critical vendors, which are common in bankruptcy cases.Ĭiting customers' privacy interests, Lane also said Genesis did not have to reveal customer names in its lists of creditors, and suggested it warn about possible phishing scams if their names were made public later. "I'm very much an optimist."īrian Rosen, a lawyer for creditors holding $1.5 billion of claims, said "we are getting closer" to an accord. "Sitting here right now, I don't think we're going to need a mediator," he said. ![]() O'Neal said Genesis had "some measure of confidence" it would resolve its disputes with creditors this week, following about two months of negotiations, and would seek mediation if necessary. ![]() The filing followed the bankruptcies since last July of crypto lenders Celsius Network, Voyager Digital and BlockFi. 19, two months after it froze customer withdrawals in the wake of the collapse of Sam Bankman-Fried's FTX exchange. Genesis and two lending units filed for bankruptcy protection from creditors on Jan. Sean O'Neal, the lawyer, spoke at an initial hearing in Manhattan bankruptcy court for Genesis Global Capital, the crypto lending business owned by Barry Silbert's venture capital firm Digital Currency Group. NEW YORK, Jan 23 (Reuters) - A lawyer for the bankrupt Genesis Global Capital said on Monday that the cryptocurrency lender had some confidence it could resolve its disputes with creditors this week, with a goal of emerging from Chapter 11 by late May. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |