Bulk of Stenn’s $1 Billion Debts Remain Outstanding Amid Probe

Officials overseeing the wind-down of Stenn Technologies, the UK invoice-finance firm backed by Wall Street investors, have recovered about one tenth of the funds owed so far as they continue to probe the circumstances of its collapse.

Stenn was owed roughly $1 billion in short-term invoices at the point of its Dec. 2024 insolvency. Administrators at Interpath Advisory managing the firm’s failed UK subsidiaries have obtained £93 million ($125 million) since then, according to their latest reports.

The firm’s invoice assets were used to back notes that were then sold to investors including Citigroup Inc., HSBC Holdings Plc ...