DCG owes its subsidiary Genesis Global over $1.65 billion

ChainCatcher news indicates that the bankruptcy filing of Genesis Global and its related entities shows that the parent company DCG owes its subsidiary Genesis over $1.65 billion. The debt DCG owes to Genesis includes a $575 million loan due in May of this year and a $1.1 billion promissory note due in June 2032.

The special committee of the board of GGH (the holding company of the Genesis entities) is investigating the loan activities between GGC and DCG to determine whether the bankrupt company has viable claims against DCG related to these transactions to assist in the restructuring. (source link)