Gemini legal team accuses DCG of ‘gaslighting’ Genesis creditors By Cointelegraph

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Gemini legal team accuses DCG of ‘gaslighting’ Genesis creditors

Published Sep 15, 2023 05:25PM ET Updated Sep 15, 2023 07:00PM ET

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Gemini legal team accuses DCG of ‘gaslighting’ Genesis creditors

Lawyers representing Gemini Trust have pushed back against a plan proposed by Digital Currency Group (DCG) for creditors of Genesis Global.

In a Sept. 15 filing in the United States Bankruptcy Court for the Southern District of New York, the legal team accused DCG of gaslighting Genesis creditors through “contrived, misleading, and inaccurate assertions” in the recovery plan. The plan, filed in bankruptcy court on Sept. 13, claimed that unsecured creditors could have a “70–90% recovery with a meaningful portion of the recovery in digital currencies” while Gemini Earn users could expect an “approximately 95–110%” recovery for their claims.

Sept. 15 filing in U.S. Bankruptcy Court for the Southern District of New York. Source: CourtListener

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