Genesis, a lender that has gone bankrupt, has requested deadlines for creditor claims and an auction, as per bankruptcy court filings dated Thursday.
Creditors are asked to state the amount they are owed by May 22, while the auction is set for June 27. Interested buyers need to show their interest by May 5. The sale would include Genesis Global Capital and Genesis Asia Pacific, along with Genesis Global Trading, which has not filed for bankruptcy. The plan aims to encourage competitive bidding for the sale and was submitted for approval to a bankruptcy court in the Southern District of New York.
The proposal will be considered by Judge Sean Lane in a hearing scheduled for March 30.