Genova Burns To Serve As Local Counsel In BlockFi, Inc. Chapter 11 Proceedings
January 3, 2023
Genova Burns LLC is pleased to announce that it has been chosen by the Official Committee of Unsecured Creditors of BlockFi, Inc. to serve as Local Counsel in the Chapter 11 Bankruptcy proceedings pending in Trenton.
BlockFi, Inc. serves both retail and institutional clients relating to digital assets through web and mobile applications and provides hedge funds, market makers, proprietary trading firms, trading desks, cryptocurrency miners and exchanges with financing, trading and treasury solutions.
As of March 2022, BlockFi’s business volume was 23 billion dollars and it had approximately 15 billion dollars of deployable assets.
On this engagement, Genova Burns will be working with the national bankruptcy and cryptocurrency groups at Brown Rudnick, LLP, primary counsel to the Creditor’s Committee.
Daniel M. Stolz, Esq., Chair of Genova Burns’ Bankruptcy, Reorganization & Creditors’ Rights practice stated, “We are honored to be retained by the Creditor’s Committee in this landmark Chapter 11 case. Our team is looking forward to working diligently to provide creditors of BlockFi with the largest possible recovery”. James M. Burns, Esq., Managing Partner of Genova Burns stated, “This is another step towards firmly establishing Genova Burns as a key player in the bankruptcy and restructuring space, and as an emerging player in the world of cryptocurrency disputes”.
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Genova Burns LLC is proud of its reputation for the ability to offer a range of unsurpassed legal services in many practices areas and industries. It is truly a full-service firm on the cutting edge of market trends and opportunities with burgeoning practices like privacy, cybersecurity & cryptocurrency law – including federal and state regulation and compliance matters – as well as extensive experience in bankruptcy, reorganization & creditors’ rights, labor law, real estate, transportation and logistics law, among others. The key differentiator is the Firm’s ability to operate as a large firm; however, remain nimble enough to serve clients with an unrivaled personal approach and a “we can get it done” culture for which it is recognized.