Genesis: A trust will be established to resolve all claims

Genesis, which previously declared bankruptcy, said it would establish a trust to resolve all claims, and the plan would seek a sale, financing or securitization transaction. The company will initiate the marketing and sales process to monetize or otherwise raise capital for Genesis' assets and distribute the proceeds of the transaction to creditors fairly and equitably. Provided the final assets are not sold or financed, creditors will receive an ownership interest in the reorganized Genesis. The restructuring process will be overseen by an independent special committee of the company's board of directors.