By Mark Hunter
2 weeks agoWed Nov 29 2023 09:44:35
Checking out Time: 2 minutes
- Digital Currency Group (DCG) has actually reached a modified payment contract with its insolvent subsidiary, Genesis Global Holdco LLC over a $620 million suit
- The offer is set to supply Genesis with around $200 million in worth over the next couple of weeks, with DCG bound to meet impressive payments by April 2024
- The arrangement intends to settle a claim started by Genesis in September to recuperate impressive loans from its moms and dad business
Digital Currency Group (DCG) has actually reached a modified payment contract with its insolvent subsidiary, Genesis Global Holdco LLC, marking development in solving a $620 million suit. The offer, revealed throughout a Tuesday hearing, is set to offer Genesis with around $200 million in worth over the next couple of weeks, with DCG obliged to meet impressive payments by April 2024. The arrangement intends to settle a suit started by Genesis in September to recuperate exceptional loans from its moms and dad business.
$630 Million Lawsuit Nears Conclusion
Genesis fell under personal bankruptcy in January owing more than $3 billion,
