According to a court filing on Tuesday, the bankrupt crypto lender Genesis filed an updated winding-up plan while mediated discussions are continuing about the money it is owed by its parent company Digital Currency Group.

The document is an update to a plan that was first proposed Jan. 20th, the day three Genesis Group companies filed bankruptcy at a New York Court. DCG is the parent company for CoinDesk.

The filing stated that the updated reorganization “reflects substantial agreements on certain key questions,” but that Genesis, its creditor and other stakeholders are reserving their positions in ongoing negotiations. The court appointed a mediator in April for a period of 30 days, which was then extended. This included the DCG issue.

The plan states that DCG’s claims and those of Three Arrows Capital, a bankrupt hedge fund, are “disputed” and “impaired”, suggesting that creditors will not get the full value for their claims.

The plan stated that DCG claimants would be treated as other unsecured creditors but wouldn’t receive any proceeds arising from the loans owed by parent company. DCG reported in January that it owed Genesis Capital a total of $526 million due by May 2023 and $1.1 billion due under a promissory notes due in June 2032.

The filing stated that claims relating to the bankrupt crypto exchange FTX, and its sister trading arms Alameda Research should not be allowed to reap any benefits from fraudulent transfers. Genesis denies FTX’s claim that it owes them $3.9 billion. In a filing made also Tuesday by FTX, it argued that its claims against Genesis be adjudicated in its own Delaware court proceedings. Genesis has denied the claim.

Judge Sean Lane, who gave Genesis until the 2nd of August to finalize its bankruptcy, appeared to be unimpressed with 3AC’s and FTX attempts to participate in mediation.

Sandali Handagama is the editor.