Genesis Global Holdco secures extension of exclusive plan periods

By Sarah Lizee

Olympia, Wash., June 22 – Genesis Global Holdco, LLC secured an extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to an order filed Wednesday with the U.S. Bankruptcy Court for the Southern District of New York.

Specifically, the court extended the plan filing period through Aug. 2, provided that the official committee of unsecured creditors, an informal group of creditors, or Gemini Trust Co., LLC may file a motion to terminate the extended period on seven days’ notice, if the debtors are no longer working cooperatively with them to pursue a joint Chapter 11 plan.

The exclusive solicitation period was extended through Oct. 1.

As previously reported, the company had asked the court to extend the plan filing period through Aug. 27 and the exclusive solicitation period through Oct. 26.

Genesis Global is a New York-based cryptocurrency lender. The company filed bankruptcy on Jan. 19 under Chapter 11 case number 23-10063.

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