Bankrupt Crypto Firm Genesis Says Mediation to End Soon Regardless of Deal Status
- Crypto lender seeks agreement with key creditors by Aug. 16
- Company extended mediation period for additional two weeks
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Bankrupt crypto lender Genesis Global Holdco LLC has extended its mediation with creditors for the last time, a company lawyer said during a hearing Wednesday.
“If we do not make substantial progress with respect to a deal in principle in the next two weeks, we do not believe that we will be seeking to extend the mediation further,” company lawyer Sean O’Neal told US Bankruptcy Judge Sean Lane. As a result, the talks will have to wrap up by Aug. 16.