Greensill Capital’s Australian parent became insolvent on or around March 2, a week before it filed for administration, liquidators Grant Thornton have concluded in its initial investigations into the supply chain finance firm’s sudden collapse.

Pinpointing the exact date the Bundaberg-based group became insolvent is crucial because its main operating subsidiary, Greensill Capital UK (GCUK) did not appoint administrators until March 8, while Greensill Capital’s Australian parent filed for administration on March 9.