NEW: Crypto lender Genesis has revised its bankruptcy plan citing “substantial agreement” on major issues. jackschickler reports
The document updates a plan first proposed on Jan. 20, the day that three Genesis group companies filed for bankruptcy in a New York court. DCG is also the parent company of CoinDesk.
The plan indicates that claims by DCG and by bankrupt hedge fund Three Arrows Capital are disputed and “impaired,” suggesting that the creditors won’t get back the full value of their claims.
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