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Global law firm Herbert Smith Freehills has advised IFM Investors’ private equity arm on the sale of its majority stake in Genie Solutions to The Citadel Group. Firm: Herbert Smith Freehills (IFM I
According to Greensill’s court filings, the insurers alleged that the policies that underpin the loans were written by an employee of a Tokio Marine subsidiary, but lacked the documents required to evaluate the risk being insured. Greensill is on the verge of collapse after key backers, including Tokio Marine, Credit Suisse and the Swiss finance house GAM Holding, withdrew support amidst concerns about the management of the business, and the magnitude of loans Greensill issued to one key client, the steel magnate Sanjeev Gupta. Greensill employs 1000 staff in London but is controlled throug...