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Greensill administrators recover additional £41m for creditors

Greensill administrators Grant Thornton has confirmed it’s recovered £41m of additional funds for creditors of the former finance firm.  

Reported as part of its latest report to creditors during the six months ending September 7, it also said it’ll need to extend the time required to unwind Greensill assets from an initial date of March 7 2025 – although the amount for repayment to unsecured creditors was “uncertain” at this stage.  

 

Greensill fell into administration in March 2021 and has led to several legal disputes as the parties involved in financing its operations seek to avoid liability for the firm’s losses or try to secure funding from the group’s insolvent estate.  

 

Grant Thornton restructuring partner Chris Laverty said in the report that progress has been made to prepare letters to send to third parties demanding contributions for the losses sustained by creditors in Greensill’s collapse.


It’s also investigating the affairs of the company in the lead-up to its demise and is assisting other investigations into the Greensill case.

TRI Strategy

 

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