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A year after Greensill Capital imploded, the administrators of the firm’s core London-based operations still do not know whether its unsecured creditors will get any money back. ....
Greensill Capital’s British administrators have singled out insurance claims as “a significant area of recovery” for the collapsed supply chain group’s investors. ....
Greensill Capitalâs $1.55 billion black hole in UK Save Share Most creditors of the main operating entity of Greensill Capital are unlikely to get their money back because the firmâs UK business has a $US1.2 billion ($1.55 billion) gap between debts it owes and the value of assets it can sell. The release of the first creditorâs report from Greensill Capital UKâs administrators, Grant Thornton, on Friday revealed it has 210 unsecured creditors owed $US1.46 billion, including Sanjeev Guptaâs GFG Alliance which is owed $US16.7 million; software group Tradeshift Holdings which is owed $US7.1 million; fintech group Taulia which is owed $US1.2 million; and insurance brokers Marsh UK, which are owed $US2.9 million. ....
Greensill Creditors OK Australian Liquidation; Further Investigations Expected Creditors of Greensill Capital Pty, the Australian parent of the collapsed British supply chain financier, voted on Thursday to liquidate the company, its administrator said, triggering deeper investigations into the conduct of its directors. Grant Thornton (GT), the liquidator appointed for the Australian parent and its operating companies in Britain, said the majority of 26 creditors owed A$4.6 billion ($3.6 billion) by the collapsed financier voted for liquidation. “The liquidators will continue to identify and realize available assets, monitor developments in relation to the administrations of Greensill UK and the Greensill Bank AG, and continue their investigations in relation to Greensill Capital Pty,” GT said in a statement. ....