Three Arrows Capital (3AC) has requested to be involved in the bankruptcy mediation process of crypto firm Genesis Global.
The legal struggles of crypto organizations continue at full speed in the new year. In particular, bankrupt crypto organizations continue their lawsuits under the Chapter 11 process. One of these companies, Genesis Global, entered the restructuring process. On May 1, Judge Sean Lane appointed Randall J. Newsome as mediator on Genesis and DCG.
Finally, Three Arrows Capital requested to be involved in this process of Genesis.
Request from 3AC on Genesis Global
Three Arrows Capital (3AC) seeks Genesis Global’s right in its bankruptcy mediation process.
Marking the beginning of the crypto winter with its collapse in 2022, 3AC claimed over $1 billion for transfers to Genesis. The application from Russell Crumpler and Christopher Farmer, who were appointed to represent the 3AC liquidation process, stated that 3AC should also be involved in Genesis’ mediation efforts.
In recent months, 3AC has reached an agreement to restrict Genesis’ stock and cryptocurrency transfers. However, Crumpler and Farmer noted that despite being one of the largest creditors, they were adequately involved in the Genesis process. This request from 3AC will be heard at a hearing today.
56290
