Genesis proposes an "exit roadmap" to establish a trust as a global claims resolution solution

ChainCatcher news, the cryptocurrency lending economic company Genesis Global Holdco, which has applied for bankruptcy restructuring, along with its two lending business subsidiaries, has proposed an "exit roadmap" that includes establishing a trust to address all global claims and distribute assets to creditors, while considering a dual-track process to seek sales, financing, and/or securitization transactions.

In addition, Genesis will initiate marketing and sales processes to monetize its assets or otherwise raise funds, using the proceeds from transactions to fairly and equitably pay creditors. If the marketing process does not result in a sale or financing, creditors will receive ownership of the restructured Genesis Global Holdco company, with all aspects of the restructuring process overseen by an independent special committee of the company's board of directors. (source link)