Bloomberg: Genesis and its parent company DCG will face off in court today over the plan to repay creditors

ChainCatcher news, according to Bloomberg, the bankrupt crypto lending institution Genesis will confront its parent company DCG in a New York court over the plan to repay creditors.

It is reported that since the collapse of several large crypto companies in November 2022, these creditors' digital assets and cash have been frozen on the platform. Judge Sean Lane will decide whether Genesis's proposal is authorized under bankruptcy law. The trial on Monday is expected to last at least a few days.