Greensill’s U.S. Unit Files Plan to Liquidate, Repay Creditors

Greensill Capital’s U.S. subsidiary filed a plan to wrap up its bankruptcy by creating a liquidation trust that will pursue claims over more than $65 million in transferred funds.

Greensill Capital Inc.'s Chapter 11 plan, filed after the $7 million sale of its Finacity Corp. business to White Oak Global Advisors, would seek to pay back creditors by pursuing potential causes of action related to over $50 million in payments made in connection to the company’s 2019 acquisition of Finacity.

The financial services company, whose ultimate parent is Australia-based Greensill Capital Pty, also is looking to pursue claims over another ...