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US Trustee Opposes 'Backdoor' Releases In Genesis Ch. 11

By Jonathan Romeo · January 30, 2024, 5:58 PM EST

The U.S. Trustee's Office is challenging cryptocurrency company Genesis Global's Chapter 11 plan, arguing it would improperly pay certain legal fees without court approval, include overbroad releases and allow for an...

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Bankruptcy Scorecard

Summary

Cryptocurrency lending platform Genesis Global Holdco LLC filed for Chapter 11 bankruptcy in January 2023 with $5.1 billion, after huge players in the digital asset space fell into Chapter 11, including exchange FTX Trading Ltd. and lending platform Celsius Networks.

Case Number

23-bk-10063

Judge

Sean H. Lane

Venue

U.S. Bankruptcy Court for the Southern District of New York

Capital Structure

Total Liabilities:

$5.1 billion

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Documents

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Case Information

Case Title

Genesis Global Holdco, LLC

Case Number

1:23-bk-10063

Court

New York Southern

Nature of Suit

Date Filed

January 19, 2023

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