Genesis Global Bankruptcy Court Announcing 7 Members Committee To Represent Creditors
Key Points:
- In the Genesis Global bankruptcy case, an unsecured creditors committee has been formed.
- According to a February 3 filing, the committee was appointed by William Harrington, a spokesman for the United States Trustee.
In Genesis Global’s bankruptcy action in the United States, a seven-member committee to represent unsecured creditors has been formed.
The unsecured creditor committee will represent creditors in court. According to a February 3 filing, the committee was appointed by William Harrington, a spokesman for the United States Trustee. The United States Trustee is a Justice Department institution that represents the government in bankruptcy proceedings and assists in the formalization of committees.
Members of the committee are:
- SOF International.
- Teddy Andre Amadeo Gorisse, an individual creditor.
- Digital Finance Group, an investment firm.
- Richard R. Weston, an individual creditor.
- Mirana, an investment arm for crypto exchange Bybit.
- Amelia Alvarez, an individual creditor.
- Bitvavo custody, a crypto exchange.
Genesis Global is the lending division of Genesis Trading. On January 20, it filed for Chapter 11 bankruptcy protection in the United States. The document detailed the company’s top 50 unsecured claims, which totalled more than $3.6 billion. Some of the largest claims, including one for roughly $500 million, are associated with entities whose identities have been erased.
Among the claims were $30 million owed to Plutus Lending, a division of the crypto platform Abra and $53 million owed to VanEck’s New Finance Income Fund.
Mirana and Digital Finance Group are among the creditors on the newly constituted committee from the top 50 unsecured claims list. Mirana’s claim is the fifth-largest on the top 50 unsecured list, with a total value of $151 million.
According to the chapter 11 filing, investment firm Digital Finance Group has a claim for $37 million, while Dutch crypto exchange Bitvavo had to cease repayments after being unable to access 280 million euros ($303 million) held on Genesis Global.
Following the failures of the crypto hedge fund Three Arrows Capital and the FTX exchange last year, Genesis’ lending arm took a financial hit. On November 16, the company froze withdrawals and new loan originations from its lending affiliate.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Thana
Coincu News
Author
News
Genesis Global Bankruptcy Court Announcing 7 Members Committee To Represent Creditors
Key Points:
- In the Genesis Global bankruptcy case, an unsecured creditors committee has been formed.
- According to a February 3 filing, the committee was appointed by William Harrington, a spokesman for the United States Trustee.
In Genesis Global’s bankruptcy action in the United States, a seven-member committee to represent unsecured creditors has been formed.
The unsecured creditor committee will represent creditors in court. According to a February 3 filing, the committee was appointed by William Harrington, a spokesman for the United States Trustee. The United States Trustee is a Justice Department institution that represents the government in bankruptcy proceedings and assists in the formalization of committees.
Members of the committee are:
- SOF International.
- Teddy Andre Amadeo Gorisse, an individual creditor.
- Digital Finance Group, an investment firm.
- Richard R. Weston, an individual creditor.
- Mirana, an investment arm for crypto exchange Bybit.
- Amelia Alvarez, an individual creditor.
- Bitvavo custody, a crypto exchange.
Genesis Global is the lending division of Genesis Trading. On January 20, it filed for Chapter 11 bankruptcy protection in the United States. The document detailed the company’s top 50 unsecured claims, which totalled more than $3.6 billion. Some of the largest claims, including one for roughly $500 million, are associated with entities whose identities have been erased.
Among the claims were $30 million owed to Plutus Lending, a division of the crypto platform Abra and $53 million owed to VanEck’s New Finance Income Fund.
Mirana and Digital Finance Group are among the creditors on the newly constituted committee from the top 50 unsecured claims list. Mirana’s claim is the fifth-largest on the top 50 unsecured list, with a total value of $151 million.
According to the chapter 11 filing, investment firm Digital Finance Group has a claim for $37 million, while Dutch crypto exchange Bitvavo had to cease repayments after being unable to access 280 million euros ($303 million) held on Genesis Global.
Following the failures of the crypto hedge fund Three Arrows Capital and the FTX exchange last year, Genesis’ lending arm took a financial hit. On November 16, the company froze withdrawals and new loan originations from its lending affiliate.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Thana
Coincu News
Other Posts
Related Posts
News
US Senator Cynthia Lummis Speaks Out To Protect Bitcoin Against Biden’s Dictatorship
News
Binance Founder Changpeng Zhao Thanks Everyone for Their Support Before Going to Jail
News
Hong Kong Crypto ETFs Of HashKey And Bosera Completed Subscription To Launch On April 30
News
iOS Zero-day Exploit Discovered by Trust Wallet Is Causing Confusion Among iPhone Users
Knowledge
