Genesis Global Capital platform today filed an application insolvency under Chapter 11 of the United States Bankruptcy Code. Applications were submitted on behalf of Genesis Global Holdco and its subsidiaries Genesis Asia Pacific and Genesis Global Capital. The company presented a list of its debt obligations. Genesis recognizes liabilities to its 100,000 creditors of up to $11 billion. Genesis’ top 50 creditors account for about $3.6 billion. Genesis Global Capital management hopes to recover some of the funds during the restructuring. In August, following the massive bankruptcy of hedge fund Three Arrows Capital, Genesis announced that it was going to
Go to Source
Author: NixCoin