It seems that the settlement process for Genesis Capital, a digital currency company that filed for Chapter 11 bankruptcy in January, has hit a roadblock. According to parent company Digital Currency Group (DCG), some creditors have disrupted the settlement by making new demands and walking away from a prior agreement.
Previously, Genesis had agreed to a settlement plan that would have allowed creditors to recover 80% of their lost funds. However, the new demands by some creditors could prolong the court process and make it more difficult to reach a fair settlement.
It’s unclear what specific demands the creditors are making or why they have decided to walk away from the prior agreement. However, DCG has stated that it remains committed to reaching a fair settlement for all parties involved.
