Arent Fox Named Unsecured Creditors Committee Counsel in Greensill Capital Inc. Chapter 11 Bankruptcy
Greensill Capital Inc., which served as the US sales arm for UK-based supply chain financing company Greensill Capital Management (UK) Ltd., which, in turn, is wholly owned by private Australian company Greensill Capital Pty. Ltd., filed for Chapter 11 protection on March 25, in the US Bankruptcy Court for the Southern District of New York. Affiliates of the debtor are in administration proceedings in the United Kingdom and Australia.
In early March, Greensill’s main insurer stopped providing credit insurance on $4.1 billion of debt in portfolios it had created for clients, including Swiss bank Credit Suisse. This factor, among others, led to the commencement of the administration proceedings and the Chapter 11 case.
Arent Fox represents clients in financial restructurings; recapitalizations; bankruptcy; strategic litigation; and distressed and stressed asset and corporate acquisitions in various industries throughout the country.
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