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Greensill Bank: Customers unable to access their money - BaFin orders moratorium

Greensill Bank: Customers unable to access their money – BaFin orders moratorium
The Bundesanstalt für Finanzdienstleistungsaufischt (BaFin) – Germany”s Federal Financial Supervisory Authority – has closed down Greensill Bank”s business operations with its customers and filed criminal charges. Private investors as well as institutional investors and municipalities fear losing their money at the bank.
Greensill Bank was acquired by the British-Australian financial conglomerate Greensill Capital in 2014, with the parent company currently experiencing serious economic difficulties. According to media reports, an application for bankruptcy protection has already been submitted a few days ago in Australia and preparations are being made to file for insolvency in the UK, with the problems having now also reached Greensill Bank in Bremen.

Germany , Australia , United-kingdom , Michael-rainer , Finanzdienstleistungsaufischt-bafin , Greensill-bank , Association-of-german-banks-bundesverband-deutscher-banken , Financial-supervisory-authority , Federal-financial-supervisory-authority , Greensill-capital , German-deposit-guarantee-act , German-banks

BaFin determines that compensation is payable to depositors of insolvent Greensill Bank

BaFin determines that compensation is payable to depositors of insolvent Greensill Bank
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Germany , Michael-rainer , Finanzdienstleistungsaufischt-bafin , Customers-of-greensill-bank , Greensill-bank , Association-of-german-banks-bundesverband-deutscher-banken , Financial-supervisory-authority , District-court , Federal-financial-supervisory-authority , Amtsgericht-bremen , German-deposit-guarantee-act , German-banks