Genesis Capital’s creditors have recently made new demands, renouncing previous agreements and claims in the bankruptcy court.
This has resulted in the delay of executing the court-approved damages plan, which would have provided the injured party with compensation equal to 80% of the lost funds.
Genesis has expressed confusion and frustration over the situation, as it is difficult to understand the rationale behind the creditors’ actions, especially considering their limited participation in court hearings.
Despite this setback, Genesis remains committed to resolving disputes fairly and efficiently for all parties involved.
However, predicting the timing and amount of compensation is proving to be challenging due to the protracted lawsuit.
Additionally, it is uncertain whether all creditors are aware of the new claims made by a group of investors, which will undoubtedly prolong the litigation process.
Meanwhile, Digital Currency Group (DCG) has reported a total loss of approximately $1.1 billion for 2022, citing a difficult year.