Lex Greenshill of Greensill Capital.
Business by Jared Lynch, Valerina Changarathil 9th Mar 2021 10:55 AM
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Subscriber only The Australian arm of controversial supply chain financier Greensill Capital has been placed into administration after it warned overnight it was in severe financial distress and unable to repay a $140m loan to Credit Suisse. Grant Thornton was appointed as the administrator of Greensill s Australian operations on Tuesday morning. This follows Grant Thornton being appointed to the head company in the London overnight. Chris Laverty, Trevor O Sullivan and Will Stagg of Grant Thornton have been appointed as joint administrators of Greensill s UK operations (GCUK). Meanwhile Matt Byrnes, Phil Campbell-Wilson, and Michael McCann, also of Grant Thornton, have been appointed the voluntary administrators in Australia.
Lex Greenshill of Greensill Capital.
Business by Jared Lynch, Valerina Changarathil 9th Mar 2021 10:55 AM
Premium Content
Subscriber only The Australian arm of controversial supply chain financier Greensill Capital has been placed into administration after it warned overnight it was in severe financial distress and unable to repay a $140m loan to Credit Suisse. Grant Thornton was appointed as the administrator of Greensill s Australian operations on Tuesday morning. This follows Grant Thornton being appointed to the head company in the London overnight. Chris Laverty, Trevor O Sullivan and Will Stagg of Grant Thornton have been appointed as joint administrators of Greensill s UK operations (GCUK). Meanwhile Matt Byrnes, Phil Campbell-Wilson, and Michael McCann, also of Grant Thornton, have been appointed the voluntary administrators in Australia.
The administrators of Greensill Capital said on Tuesday that they are in talks to sell off the troubled company's assets after Credit Suisse terminated $10 billion of funds linked to the business and German financial regulators filed a criminal complaint.
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