Greensill Capital's collapse: how it all went wrong for the Australian farmer with four private planes
Former UK prime minister was adviser to Lex Greensill’s collapsed finance firm
Source: theguardian.com
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Tens of thousands of jobs at risk as Greensill Capital moves closer to collapse
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...
Source: theguardian.com