The ad hoc group of lenders representing Genesis Global, a bankrupt subsidiary of Digital Currency Group (DCG), stated on Monday that DCG has not met its repayment obligations.
According to a court filing made on Monday, DCG’s various entities still have outstanding debts in both USD and BTC to the debtors and their creditors. This revelation comes shortly after DCG publicly announced on Twitter that it had settled its short-term loans with Genesis.
However, Genesis and other creditors assert that DCG has not fulfilled its commitment to pay an unspecified amount of bitcoin, in addition to $26 million in interest and penalties, as outlined in their repayment and master loan agreements.
Genesis stated that DCG owed them a notable sum of 4,550 BTC, which equated to approximately $214 million as of Monday. Additionally, DCG had 14,048 units of Bitcoin cash, valued at around $3.5 million on the same day, along with an extra charge of 70 bitcoins as late fees.
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