At Genesis' first bankruptcy hearing, the company's lawyer expressed confidence that it would resolve its disputes with creditors by the end of the week. Genesis plans to exit the bankruptcy in 4 months from now.
The company plans to pay employees and vendors first, and then to auction off its assets to pay creditors by May. A simple calculation of the math shows that Genesis holds $5 billion in assets and liabilities, while its debt estimates to $3.4 billion.