Greensill Cited 'Political Steers' on Gupta Loans, Probe Finds
Article content The British Business Bank had granted Greensill the ability to make 400 million pounds ($551 million) of loans with guarantees from the U.K. government under a pandemic relief program. A combined 350 million pounds was extended to companies in the GFG Alliance, including six loans totaling 300 million pounds on a single day in September 2020, the audit office said, citing a British Business Bank review. Greensill collapsed in March after a key partner refused to extend crucial trade credit insurance that backed loans it made to a number of borrowers. The proximity of both Gree...
Source: leaderpost.com