Gemini joins two other creditor groups in objecting to Genesis' proposed agreement to resolve its bankruptcy.
Attorneys for crypto exchange Gemini argued that a proposed resolution for Genesis' bankruptcy doesn't have enough detail or provide any assurances for some if its largest debtors in a new filing Wednesday.to the proposed plan on similar grounds, saying the proposed agreement would fail to secure all of the debts Genesis is owed and that Genesis has not demonstrated it would be able to"confirm a viable plan.
."The limited information provided by the Debtors makes clear that the proposed deal is also woefully light in economic consideration.", attorneys for the bankrupt lender said unsecured creditors could receive up to 90% of the U.S. dollar equivalent of their holdings, though full details were not shared.
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