Greensill Says Ch. 11 Finacity Sale Resolves $20M Liability

By Vince Sullivan (July 8, 2021, 11:49 PM BST) -- Financier Greensill Capital Inc. told a New York bankruptcy judge Thursday that it has a buyer ready to purchase the debtor's interest in financial services firm Finacity Corp. and that a deal is in place that will absolve the debtor of $20 million in obligations for earnout payments.

During a virtual hearing, debtor attorney Kyle J. Ortiz of Togut Segal & Segal LLP said that after weeks of marketing and several extensions of the bid deadline, Greensill had been able to resolve issues surrounding earnout payments and employment agreements that involve Finacity CEO Adrian Katz.

The deadline extensions allowed bidders to...

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