A lawyer for bankrupt crypto lending firm Genesis is optimistic the firm can resolve its creditor disputes as early as this week and the company could come out of Chapter 11 proceedings by late May.
Genesis’ lawyer Sean O’Neal made the comments at a Jan. 23 initial hearing at the United States Bankruptcy Court for the Southern District of New York, according to a Reuters report.
He added Genesis had “some measure of confidence” it would resolve disputes with creditors by the end of the week and, if needed, would look for the judge to install a mediator, but said:
“Sitting here right now, I don’t think we’re going to need a mediator. I’m very much an optimist.”
Genesis filed for Chapter 11 bankruptcy on Jan. 19. At the