Three Arrows Capital ( 3AC), crypto company Genesis GlobalHe requested to be involved in the bankruptcy mediation process.
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 1 May Judge Sean Lane, Randall J. Newsomeu GenesisAnd DCGappointed as mediator.
Finally Three Arrows Capitaldemanded to be involved in this process of Genesis.
Request from 3AC on Genesis Global
Three Arrows Capital ( 3AC), Genesis Globalseeks its rights in the bankruptcy mediation process.
2022Marking the beginning of the crypto winter with the collapse in 3AC, for transfers to Genesis 1 billion dollarsHe claimed rights over n. 3ACappointed to represent the liquidation process Russell CrumplerAnd Christopher farmerIn the application from Genesis, it was stated that 3AC should also be involved in 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.
