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Greensill under investigation for insolvent trading

Greensill under investigation for insolvent trading
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Greensill Capital’s Australian parent group is under investigation for potential insolvent trading after administrators Grant Thornton recommended it be liquidated.
Grant Thornton has already started investigating whether Bundaberg-headquartered Greensill Capital Pty Ltd breached any laws.
Lex Greensill’s Australian company has as much as $4.9 billion of debt.
Peter Braig
If it receives liquidator powers at a creditors’ meeting scheduled for next Thursday, it will examine the group’s access to external funding and the solvency position of Greensill’s main UK operating business.
“An insolvent trading claim against the company’s directors for the estimated loss could be made by a liquidator if the company is wound up at the forthcoming meeting,” Grant Thornton said in a 91-page report on Greensill’s collapse.

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Debt-strapped Greensill should be liquidated, Grant Thornton says

Debt-strapped Greensill should be liquidated, Grant Thornton says
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Insolvent supply-chain finance firm Greensill’s Australian operation is lumbering under as much as $4.9 billion of debt and should be liquidated, its administrator Grant Thornton will tell creditors at a meeting next Thursday.
The company has just $4 million in the bank and its remaining four staff are operating out of a WeWork office, after the other 33 employees were let go when US private-equity giant Apollo Global Management last month pulled out of a plan to buy Greensill.
Lex Greensill’s Australian company has as much as $4.9 billion of debt.
Peter Braig

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Julie Bishop owed $120,000 by Greensill Capital

The $US930.5 million owed by Greensill’s Australian parent – including at least $2.3 million to former employees – is more than double what administrators are trying to claim for debts owed.

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Greensill Australia owes more than $1bn to creditors

The $US930.5 million owed by Greensill’s Australian parent – including at least $2.3 million to former employees – is more than double what administrators are trying to claim for debts owed.

Germany , Australia , United-kingdom , Channel-islands , Western-australia , Colombia , Whyalla , South-australia , Bundaberg , Queensland , Tahmoor , New-south-wales