Greensill Capital has been slapped down by the NSW Supreme Court for a last-ditch attempt to force its insurers into extending coverage on some $US4.6 billion of packaged securities, highlighting the financial stress the Australian-owned firm is under.
Justice James Stevenson on Monday refused to grant Greensill an injunction to make insurers keep covering securities it sells to investment funds, which include the Credit Suisse Supply Chain Finance funds, beyond March 1.
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Jenny Wiggins writes on business, specialising in infrastructure, telecommunications and transport. Connect with Jenny on Twitter. Email Jenny at jwiggins@afr.com
