Genesis Global Holdco seeks extension of exclusive plan periods

By Sarah Lizee

Olympia, May 22 – Genesis Global Holdco, LLC is seeking an extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to a motion filed Friday with the U.S. Bankruptcy Court for the Southern District of New York.

Specifically, the company asked the court to extend the plan filing period through Aug. 27 and the exclusive solicitation period through Oct. 26.

The company said it is still negotiating with parties in interest regarding the terms of its Chapter 11 plan and a potential global resolution, including through ongoing court-approved mediation.

The company said it is also working to solicit bids for assets, as well as reconciling claims and refining its understanding of the claims pool.

Genesis said it is also working with creditors and other parties in interest on various amendments to the plan in case there is no global settlement.

A hearing is scheduled for May 30.

Genesis Global is a New York-based cryptocurrency lender. The company filed bankruptcy on Jan. 19 under Chapter 11 case number 23-10063.

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