Genesis Global receives extension of exclusive plan periods

By Sarah Lizee

Olympia, Wash., Sept. 15 – Genesis Global Holdco, LLC secured an extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to an order filed Friday with the U.S. Bankruptcy Court for the Southern District of New York.

The court extended the exclusive plan filing period through Oct. 6 and the exclusive solicitation period through Oct. 31.

In its motion seeking the extension, Genesis Global was continuing to negotiate with parties in interest regarding a potential global resolution, to work to address any objections that may be raised with respect to the disclosure statement or the plan, to solicit votes following approval of the disclosure statement, to continue reconciling claims and refining their understanding of the claims pool and to seek approval of the settlement between the debtors and FTX.

The company recently reached a settlement with its parent company, Digital Currency Group, and its official committee of unsecured creditors, as well as a settlement with FTX, as previously reported.

Genesis Global is a New York-based cryptocurrency lender. The company filed bankruptcy on Jan. 19, 2023 under Chapter 11 case number 23-10063.

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