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20 de ene. de 2025Derar Islim, Genesis acting CEO, assured creditors of a quick and efficient bankruptcy process. Genesis filed for Chapter 11 bankruptcy on Jan. 20, 2025, as it seeks to 20 de ene. de 2025According to a letter obtained by The Block, Genesis Interim CEO Derar Islim told clients the firm wants to exit bankruptcy as, “quickly and efficiently as possible.” The crypto 20 de oct. de 2025Thursday’s lawsuit against Genesis, parent company DCG, and Gemini by the New York State Attorney General was welcomed by creditors seeking answers. The Genesis 24 de ene. de 2025A lawyer for Genesis is optimistic the crypto lending firm can resolve creditor disputes before the week is out and exit bankruptcy proceedings within four months. 18 de ago. de 2025Cryptocurrency broker Genesis Trading has started restructuring with the exit of its CEO. The move comes after the company revealed last month that it had exposure to the 20 de may. de 2025A bankruptcy court judge has approved a plan by the cryptocurrency lender Genesis Global to return about $3 billion to its creditors and investors, including thousands of 23 de ene. de 2025According to interim CEO Derar Islim, Genesis hopes to exit bankruptcy as quickly and efficiently as possible. Under a Chapter 11 bankruptcy, an “automatic stay” prevents

Genesis Interim CEO Says Firm Wants to Exit Bankruptcy Quickly and Efficiently

Genesis Global is prioritizing a swift and effective resolution to its Chapter 11 bankruptcy proceedings, according to statements made by Interim CEO Derar Islim. The firm, which filed for bankruptcy on Jan. 20, 2025, is actively working towards a plan to satisfy creditors and resume operations. According to a letter obtained by The Block on 20 de ene. de 2025, Islim assured clients that Genesis wants to exit bankruptcy “as quickly and efficiently as possible.”

Since the Jan. 20, 2025 filing, Genesis has been navigating complex legal and financial challenges. A lawyer for Genesis expressed optimism on 24 de ene. de 2025 that creditor disputes could be resolved quickly, potentially allowing for an exit from bankruptcy proceedings within four months.

Significant progress has been made. On 20 de may. de 2025, a bankruptcy court judge approved a plan by Genesis Global to return approximately $3 billion to its creditors and investors. This represents a major step forward in the company\'s efforts to compensate those affected by the bankruptcy.

The bankruptcy proceedings have not been without their challenges. On 20 de oct. de 2025, New York State Attorney General filed a lawsuit against Genesis, parent company DCG, and Gemini, a move welcomed by creditors seeking answers regarding the firm\'s financial situation. However, Genesis remains focused on achieving a positive outcome for all stakeholders.

Changes in leadership have also occurred during this period. On 18 de ago. de 2025, Genesis Trading began restructuring, which included the exit of its CEO. Islim stepped into the role of Interim CEO, reaffirming the commitment to expedite the bankruptcy process. As stated on 23 de ene. de 2025, by Derar Islim, Genesis hopes to exit bankruptcy as quickly and efficiently as possible, understanding that under Chapter 11, an "automatic stay" prevents certain actions while the restructuring plan is developed and implemented.

The focus remains on maximizing value for creditors and positioning the company for a sustainable future. The commitment from Interim CEO Derar Islim to a quick and efficient bankruptcy process signals a dedication to resolving the situation effectively.

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