FTX and Genesis have reached a preliminary agreement in the bankruptcy dispute, requesting court approval for settlement.
2023-07-28 02:07
Odaily News According to the documents submitted to Judge Sean H. Lane of the Southern District of New York Bankruptcy Court, FTX and Genesis have reached a preliminary agreement to resolve the disputes related to the Chapter 11 bankruptcy case and have filed an application with the court, requesting the court to issue an order approving the "settlement."
This agreement will address the claims made by FTX debtors against the debtors in the Chapter 11 lawsuit, as well as the claims made by Genesis debtors against FTX debtors in the Chapter 11 lawsuit, pending document verification.
In order to give both parties an opportunity to ultimately finalize the definitive documents regarding the settlement, both parties are urging the court to temporarily suspend the submission of any documents related to the "motion to lift the stay" and "motion for estimation."
This agreement will address the claims made by FTX debtors against the debtors in the Chapter 11 lawsuit, as well as the claims made by Genesis debtors against FTX debtors in the Chapter 11 lawsuit, pending document verification.
In order to give both parties an opportunity to ultimately finalize the definitive documents regarding the settlement, both parties are urging the court to temporarily suspend the submission of any documents related to the "motion to lift the stay" and "motion for estimation."
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