Genesis’ committee of unsecured creditors filed an objection to the bankrupt’s lender request to continue intercompany transactions, according to a Feb. 20 court filing.

The creditors argued that Genesis’ request raises various concerns for the committee because previous intercompany transactions are being investigated.

Genesis creditors said the bankrupt firm has yet to provide relevant information like its crypto wallet addresses that would aid its investigations into the previous transactions — and as such, it cannot ascertain the basis for its recent request.

Genesis creditors want the court to prohibit the firm from all intercompany transactions and mandate it to “provide reporting and information necessary to track cash outflows and the movement of the Debtors’ digital assets, including cryptocurrency wallet addresses.”

(By Oluwapelumi Adejumo)

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