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Lastly, Genesis also filed a motion with the Chapter Courtroom looking for a 2nd extension of its period of exclusivity to suggest a plan of reorganization. Genesis’s movement in search of a second extension of its period of exclusivity to propose a plan of reorganization can be scheduled for listening to on September 6th (see August 4th update, below). This is a substantial step forward in the Genesis restructuring and a major reduction of FTX’s $3.7 billion claim on the Genesis estate. Two mediation classes have been held on August 16th and 17th this week. Gemini is considering various paths to permit Earn users to proper away recuperate more of the funds they are owed, including objecting to Genesis’s movement in search of a 2nd extension of its interval of exclusivity to propose a plan of reorganization (see August 4th update, below).
Step 2: Confirm Your Business
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- Since our final update, Genesis has made progress presenting a plan of reorganization that can be solicited for votes in late November and set up for affirmation in January with distributions quickly thereafter.
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