Greylock Capital Bankruptcy Dismissed After Deal With Creditors

Greylock Capital Associates LLC convinced a bankruptcy judge to dismiss its Chapter 11 case after it reached agreements with its two largest creditors.

Monday’s dismissal allows Greylock Capital Associates, the parent of hedge fund Greylock Capital Management LLC, to sidestep a challenge from the Justice Department’s bankruptcy watchdog over its use of a bankruptcy process for small businesses.

The company resolved the issues that precipitated the bankruptcy, so there is no need for the case to continue, Judge Robert D. Drain of the U.S. Bankruptcy Court for the Southern District of New York said at a hearing.

Greylock in March ...