TechFlow news on November 19: According to official disclosures, Genesis Global Holdco and its two lending subsidiaries, Genesis Global Capital and Genesis Asia Pacific, have voluntarily filed Chapter 11 bankruptcy petitions with the U.S. Bankruptcy Court for the Southern District of New York.Genesis stated that a committee will oversee all aspects of the restructuring process, with over $150 million in current cash on hand, while new loan originations in its lending business remain suspended.
According to the NYSE host's disclosure, "Since last November, Genesis has been negotiating with creditors, owing more than $3 billion to creditors."
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