Bankrupt crypto exchange FTX and crypto lender Genesis reach an agreement in principle to resolve multi-billion dollar claims. The “settlement” aims to resolve various claims, however, specific details of the agreement are not disclosed yet. Both parties are eager for court appro...
- Bankrupt crypto exchange FTX and crypto lender Genesis reach an agreement in principle to resolve multi-billion dollar claims.
- The “settlement” aims to resolve various claims, however, specific details of the agreement are not disclosed yet.
- Both parties are eager for court approval to enable financial recovery.
Bankrupt crypto exchange FTX and crypto lender Genesis have announced an agreement in principle to resolve the multi-billion dollar claims that have plagued both firms during their bankruptcy cases. The legal counsels representing both companies jointly penned a letter to Judge Sean Lane on July 27, announcing the unexpected resolution.
[The “Settlement”] would resolve, among other things, the claims asserted by the FTX Debtors against the Debtors in these Chapter 11 Cases, and the claims asserted by the Genesis Debtors against the FTX Debtors in the FTX Chapter 11 Cases.
The “Settlement,” subject to documentation, aims to resolve various claims asserted by the parties involved in the jointly administered Chapter 11 proceedings currently pending in the United States Bankruptcy Court for the District of Delaware.
Furthermore, all pending …
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