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On April 24, Genesis filed a motion to initiate a court-supervised mediation as part of our restructuring efforts.
Our goal for this process is to bring our stakeholders together to improve upon our previously announced agreement in principle, with a goal of reaching a consensual resolution that maximizes recovery for creditors. Mediation is commonly used during Chapter 11 cases and is a tool that creates a framework for stakeholders to advance together toward a resolution.
We are pleased with the progress we have made thus far, and appreciative of the collaborative and constructive discussions we are having with our creditors, the Unsecured Creditors’ Committee, Gemini and DCG.
Our expectation is that this mediation will move quickly and will be a positive step forward in our restructuring process.
We remain firmly committed to best positioning Genesis for the future and continuing to serve our clients.
Genesis is a premier institutional digital assets financial services firm providing a single access point for select qualified individuals and global institutional investors. Genesis combines best-in-class client service, unrivaled operational excellence and a seamless user experience to provide investors with a full suite of services to manage their portfolios.
The firm offers sophisticated market participants an integrated platform to trade digital assets, creating pathways to benefit from market opportunities while increasing capital efficiency for counterparties.
For more information on Genesis, please visit genesistrading.com.
FGS Global for Genesis[email protected]