Express

Genesis Bankruptcy Case Scheduled for First Hearing

Tris Bell

Summary: The first hearing in Genesis Capital’s bankruptcy case will take place on Jan. 23 at 2:00 Eastern Time. During the proceedings, the court will decide whether to accept the relief request by Genesis Global Holdco and its lending subsidiaries Genesis Global Capital and Genesis Asia Pacific. The United States Trustee will also appoint a committee ...

The first hearing in Genesis Capital’s bankruptcy case will take place on Jan. 23 at 2:00 Eastern Time.

During the proceedings, the court will decide whether to accept the relief request by Genesis Global Holdco and its lending subsidiaries Genesis Global Capital and Genesis Asia Pacific. The United States Trustee will also appoint a committee for unsecured creditors, who will have the right to be consulted prior to major decisions and to participate in the reorganization process.

According to a press release, the Genesis Chapter 11 plan consists of a resolution of all claims and the creation of a trust that will distribute assets to creditors. Genesis will also pursue equitization, which will install new ownership within the company.

Author: Tris Bell

  • The Making of a Political Darling: Is Chainlink’s Government Deal a Victory for Tech or... 4 days ago
  • Google Steps Into Blockchain: A New Front in the “Ledger Wars” 6 days ago
  • Bitcoin Weekly Analysis: Is a Bear Market on the Horizon? 8 days ago
  • AI Fraud Is Breaking the Internet’s Trust Economy. Can Compliance Tech Keep Up? 11 days ago
  • Can a $300M RWA Fund Save Avalanche's TVL? 12 days ago
  • You need to login to comment.