FTX Reaches In-Principle Agreement With Genesis In Bankruptcy Dispute, Asks Court To Approve Settlement

Odaily Planet Daily News According to the documents submitted to Judge Sean H. Lane of the Bankruptcy Court of the Southern District of New York, FTX and Genesis reached an agreement in principle to resolve disputes involving Chapter 11 bankruptcy cases, and filed an application with the court to request the court to issue an order Approve the "settlement". The agreement will resolve, subject to documentation, claims by FTX debtors against the debtors in the Chapter 11 suit and Genesis debtors’ claims against the FTX debtors in the FTX Chapter 11 suit. In order to give the parties an opportunity to finalize definitive documentation regarding the settlement, the parties implore the court to suspend any filing of the motion to lift stay and motion to impute with the court.