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- We will continue to publish updates here concerning the timing for initial distributions.
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- Particulars for attending the hearing might be posted to the Earn page once they’re made available.
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Lastly, Genesis additionally filed a movement with the Chapter Court looking for a 2nd extension of its interval of exclusivity to suggest a plan of reorganization. Genesis’s motion seeking a second extension of its interval of exclusivity to propose a plan of reorganization can also be scheduled for hearing on September 6th (see August 4th replace, below). This is a substantial step ahead within the Genesis restructuring and a major reduction of FTX’s $3.7 billion declare on the Genesis estate. Two mediation periods had been held on August sixteenth and seventeenth this week. Gemini is considering different paths to permit Earn users to immediately get well extra of the funds they’re owed, together with objecting to Genesis’s movement seeking a 2nd extension of its period of exclusivity to suggest a plan of reorganization (see August 4th update, below).
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We have taken this issue to the Chapter Courtroom and Gemini will depose a delegated member of the AHG this month. The December twenty second, December fifteenth, and December 13th updates below present additional element and we now have posted FAQs we hope you will find helpful as you review the Plan as properly as instructions on how to forged your Plan ballot. We encourage you to learn the Disclosure Statement and exhibits rigorously earlier than deciding whether to vote to simply accept or reject the Plan (see Genesis Solicitation Bundle beginning at p. 68).
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