Bankrupt crypto lender Genesis Global Holdco LLC is trying to stunt some crypto investors’ recovery by improperly calculating the value of their claims, a group of creditors argued.
An ad hoc committee of creditors who hold crypto claims said in a Monday filing that the company’s proposed debt repayment plan would take “hundreds of millions of dollars” from crypto creditors. The group, which had nine members as of December, holds mostly Bitcoin and Ethereum claims, according to court papers.
The Digital Currency Group subsidiary’s amended Chapter 11 liquidation plan has faced steeper scrutiny from its parent company and the US ...
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