On March 25, 2021 (the "Petition Date"), Greensill Capital Inc., (the "Debtor") filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code. The Debtor's bankruptcy case is being administered under Case No. 21-10561 before the Honorable Michael E. Wiles in the United States Bankruptcy Court for the Southern District of New York (the "Bankruptcy Court").
On April 6, 2021, the Bankruptcy Court entered an order approving bidding and sale proceedures [Docket No. 37] (the "Bidding Procedures Order") for the Debtor's proposed marketing and sale of its 100% ownership interests in its subsidiary, Finacity Corporation (the "Finacity Equity"). A copy of the Bidding Procedures Order can be accessed HERE.
On April 7, 2021, an unofficial committee of unsecured creditors was appointed (the "Creditors' Committee"). After good faith negotiations between counsel for the Debtor and counsel for the Creditors' Committee, the Debtor agreed to revise the dates and deadlines of the Debtor's sale process for the Finacity Equity. On April 15, 2021, the Debtor filed a notice of revised dates and deadlines related to the sale process of the Finacity Equity (the "Notice of Revised Dates") [Docket No. 58]. On April 30, 2021, the Debtor filed a notice of further extended dates and deadlines related to the sale process for the Finacity Equity (the "Notice of Further Extended Dates") [Docket No. 84]. A copy of the Notice of Further Extended Dates can be accessed HERE.
A hearing before the Bankruptcy Court to consider the sale of the Finacity Equity in accordance with the Bidding Procedures Order, and to consider the approval of the Debtor's "first day" motions on a final basis, among other matters, is currently scheduled for May 12, 2021 at 2:00 PM (EST).
Additional information about the bankruptcy cases may be obtained by calling the case information line at 855.485.4642 (Toll-Free) or 949.570.9981 (International). You may also submit an inquiry via email by clicking HERE.
United States Bankruptcy Court
Southern District of New York
One Bowling Green
New York, NY 10004-1408