Greensill Agrees to Sell Finacity Unit to White Oak Global

Greensill Capital’s bankrupt U.S. unit agreed to sell its Finacity Corp. business to White Oak Global Advisors for $7 million after coming to terms with Finacity’s founder and chief executive, who had tried to buy back the company.

Should a judge approve the sale, Greensill would be shedding Finacity to raise money for creditors just two years after acquiring the business in 2019 for about $80 million. A committee of unsecured creditors may oppose the sale, arguing that Greensill moved too quickly to end bidding.

“This should be a banner day,” Greensill attorney Kyle J. Ortiz said during a ...