Genesis ser hurtig løsning på kreditorkonflikter og konkursafslutning i maj

En advokat for det konkursramte kryptoudlånsfirma Genesis er optimistisk, at firmaet kan løse sine kreditorkonflikter allerede i denne uge, og virksomheden kan komme ud af kapitel 11-sagen i slutningen af ​​maj.

Genesis’ lawyer Sean O’Neal made the comments at a Jan. 23 initial hearing at the United States Bankruptcy Court for the Southern District of New York, according to a Reuters indberette.

He added Genesis had “some measure of confidence” it would resolve disputes with creditors by the end of the week and, if needed, would look for the judge to install a mediator, but said:

”Når jeg sidder her lige nu, tror jeg ikke, vi får brug for en mægler. Jeg er meget optimist.”

Genesis indgivet kapitel 11 konkurs den 19. januar. På det tidspunkt havde det allerede en omstruktureringsplan sammen med en vej, der forfølger et "salg, kapitalforhøjelse og/eller en equitization-transaktion", så det potentielt kunne "dukke op under nyt ejerskab."

The bankruptcy comes nearly two months after Genesis suspended withdrawals in November 2022 citing market turbulence caused by the bankruptcy of crypto exchange FTX.

A series of “first-day” motions, standard in bankruptcy proceedings, were granted by Judge Sean Lane to Genesis which included allowing the firm to pay employees and vendors.

Lane added Genesis did not need to reveal customer names on its creditor’s list, citing privacy concerns. Lane even suggested the lender warn users about possible phishing scams if the names are later made public.

Genesis sagde, at det vil sælge sine aktiver på auktion med en plan om at forlade sin konkurs om lidt under fire måneder den 19. maj.

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Det rapporterede at have lidt over 5 milliarder dollars i aktiver og passiver og skylder over 100,000 kreditorer mindst 3.4 milliarder dollars. Genesis' tilbagetrækningssuspendering sidste år berørte brugere af et afkastbærende produkt, den forvaltede kaldet "Tjen" fra Gemini-børsen.

Gemini er Genesis' største kreditor og skylder næsten 766 millioner dollars.

Its largest debtor was its parent company, Digital Currency Group (DCG), which owes Genesis around $1.65 billion inclusive of $575 million of loans due in May and a $1.1 promissory note maturing in 10 years’ time.

Selvom DCG er står over for sine egne økonomiske problemer — the bankruptcy did not include DCG. Similarly, the Genesis entities handling derivatives, spot trading, broker-dealer and custody are not part of the proceedings and are continuing operations according to Genesis.

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• Kilde: https://cointelegraph.com/news/genesis-eyes-fast-resolution-to-creditor-disputes-and-bankruptcy-exit-in-may