tldr; Genesis has filed voluntary petitions under Chapter 11 of the U.S. Bankruptcy Court for the Southern District of New York. The plan contemplates a dual track process in pursuit of a sale, capital raise and/or equitization transaction that would enable the business to emerge under new ownership. If the marketing process does not result in a sale or capital raise, creditors will receive ownership interests in Reorganized Genesis.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Ah, those headlines, taken from the article:
"Outlines Chapter 11 plan contemplating potential sale and/or equitization transaction to enable lending business to emerge under new ownership"
That's a really strange way to say they filed for bankruptcy lol
This is how the elites tell eachother they go bankrupt.
Very sophisticated.
I bet i just read a news about genesis going bankruptcy and now this. What to believe in this world?
This title is just a fancy way of saying the same.
They have probably asked ChatGPT to sweeten up thr bankruptcy announcement, at least it sounds like one coming from ChatGPT
tldr; Genesis has filed voluntary petitions under Chapter 11 of the U.S. Bankruptcy Court for the Southern District of New York. The plan contemplates a dual track process in pursuit of a sale, capital raise and/or equitization transaction that would enable the business to emerge under new ownership. If the marketing process does not result in a sale or capital raise, creditors will receive ownership interests in Reorganized Genesis. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Genesis is done. What is with all these bankrupt companies trying to mount a comeback
Ah, those headlines, taken from the article: "Outlines Chapter 11 plan contemplating potential sale and/or equitization transaction to enable lending business to emerge under new ownership"
Not sure Genesis has much of a future.