mediation

ChainCatcher news, according to Israeli media Yedioth Ahronoth, an Israeli official stated that mediation efforts to stop the war with Iran have begun. (Jinshi)

ChainCatcher news, according to Jinshi reports, after Russia announced the end of a month-long ceasefire targeting Ukraine's energy infrastructure, U.S. President Trump hinted that if the two sides cannot reach an agreement soon, he may abandon efforts for peace. "If for some reason one side creates tremendous difficulties, we can only say you are foolish," Trump said to reporters in the Oval Office on Friday. "You are fools, you are terrible, then we might as well just let it go. Of course, I hope we won't reach that point."Trump stated that he has not set a "specific number of days" for withdrawing from negotiations if an agreement is not reached, but he hopes to see rapid progress. "I can see clearly whether people are playing us," Trump said, "so I need to see a keen desire to end this. I also believe I have seen that keen desire. I think both sides have it."

ChainCatcher news, the lawyer of suspended South Korean President Yoon Suk-yeol, Shin Dong-hyun, stated that Yoon is negotiating with the South Korean High-ranking Officials Crime Investigation Office (SPO) and will voluntarily attend the SPO investigation. The advance vehicle of the SPO has left the presidential residence and is heading to the SPO office located in Gwacheon, Gyeonggi Province.Just now, suspended South Korean President Yoon Suk-yeol will voluntarily walk out of the residence to accept the arrest warrant and head to the Gwacheon SPO.

According to ChainCatcher news reported by CoinDesk, the crypto hedge fund Three Arrows Capital attempted to claim $284 million from the crypto lending platform BlockFi but failed. The U.S. bankruptcy judge overseeing the BlockFi case hopes to include it in the mediation process, ruling that both parties will mediate the $284 million dispute. The mediation window is open until January next year. If the parties cannot reach an agreement during the mediation process, Judge Kaplan has scheduled a two-day hearing on February 5 to determine how much should be paid.

ChainCatcher news, according to CoinDesk, a U.S. federal judge has ordered Binance, Binance.US, and the U.S. Securities and Exchange Commission (SEC) to participate in a mediation meeting to discuss restrictions on Binance's operations. The first mediation meeting is scheduled for June 14 at 2:45 PM Eastern Time. (Source link)

ChainCatcher news, according to CoinDesk, reports that Genesis has submitted a revised liquidation plan according to court documents, while mediation talks regarding the funds owed by its parent company DCG are still ongoing. The document states that the latest restructuring plan "reflects a substantial agreement on certain key issues."The plan indicates that there are disputes over claims between DCG and the bankrupt Three Arrows Capital (3AC), suggesting that creditors will not be able to recover all of their claims.Additionally, DCG's creditors will be treated the same as other unsecured creditors but will not benefit from any proceeds arising from the debts owed by the parent company. In January of this year, DCG stated that it owed Genesis Capital $526 million, which is due in May 2023, along with another $1.1 billion in promissory notes due in June 2032.Claims related to FTX and Alameda Research should not be allowed to benefit from any recovered fraudulent transfers. FTX claims that Genesis owes it $3.9 billion, which Genesis denies. In another document submitted on Tuesday, FTX stated that its claims against Genesis should be adjudicated as part of its litigation proceedings in Delaware. (CoinDesk)

ChainCatcher News, U.S. Bankruptcy Court Judge Sean Lane extended the mediation period between the crypto lending firm Genesis and its creditors during a bankruptcy hearing on Monday. The mediation period, originally set to end last month, will now conclude on June 16. A legal representative for one of the creditors, Gemini, argued that extending the negotiations could lead to greater financial losses for the creditors most affected by the bankruptcy.Additionally, during the hearing, the judge denied Genesis's request to enter into settlement negotiations with FTX, which claims that Genesis owes it $3.9 billion, while Genesis asserts that it has no debts to FTX. Genesis has requested the judge to estimate the specific amount it owes to FTX, which will be discussed in next week's hearing. (Source link)

ChainCatcher news, according to CoinDesk, the defunct cryptocurrency hedge fund Three Arrows Capital (3AC) has requested to participate in the bankruptcy mediation process of the cryptocurrency lending institution Genesis Global.It is reported that Three Arrows Capital claims to have transferred over $1 billion to Genesis before the bankruptcy. (source link)

ChainCatcher news, FTX and its affiliates oppose the extension of court-mediated settlement negotiations for the bankrupt cryptocurrency lending institution Genesis. In a recent court filing, FTX stated that, despite being Genesis's largest creditor, it was not invited to participate in the mediation designated by the court in May, which involves Genesis's parent company Digital Currency Group and Gemini.FTX also opposes a motion filed by Genesis Global, which attempts to estimate FTX's claim as its largest creditor in the Genesis bankruptcy restructuring proceedings at $0. (Source link)

ChainCatcher message, Digital Currency Group (DCG) released a statement regarding the Genesis mediation, stating that DCG continues to engage with various stakeholders in the restructuring process of Genesis Capital during the 30-day mediation period signed by the parties on May 1. To provide further financial flexibility, DCG is discussing growth capital with capital providers and refinancing the debt between itself and Genesis. (Source link)

ChainCatcher news, Gemini announced that the cryptocurrency lending institution Genesis, its parent company Digital Currency Group (DCG), the Unsecured Creditors Committee (UCC), the Creditors Committee, and Gemini have agreed to a 30-day mediation process in court starting on April 28.Gemini stated that its goal is to "reach a final resolution as soon as possible" and "support" the mediation. It is reported that Genesis plans to appear in bankruptcy court on May 4. Genesis' lawyer stated in court on April 30 that they hope to hold two mediation meetings before May 8, with the final terms of the transaction to be announced after the mediation period ends. (source link)

ChainCatcher news, according to CoinDesk, the lawyer for Genesis Global stated at the hearing that Genesis Global and its creditors and other parties have agreed to a 30-day mediation before the appointment of a mediator. This agreement came after Genesis Global requested earlier this week that the U.S. bankruptcy court appoint a mediator to assist DCG, the owner of Genesis, with the terms and conditions of the debtor's restructuring plan.ChainCatcher previously reported that DCG tweeted, "Two months after all parties agreed to the comprehensive settlement submitted by Genesis Capital to the bankruptcy court, some Genesis Capital creditors rejected it and made new demands." (source link)