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The $7b hangover: How IAG was sucked into Lex Greensill’s vortex

The $7b hangover: How IAG was sucked into Lex Greensill’s vortex

One of Australia’s most expensive corporate fights is in court. But how did the insurer targeted in the cases become entangled?

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On an October morning, as the sun glitters on Sydney Harbour, dozens of lawyers and obscenely paid barristers jostle into a courtroom, joking about “standing-room only”.

Crammed into a room perched so high above the central business district that views from the glass windows stretch to the Pacific Ocean kilometres away, there are no seats to spare. “Welcome to the jungle,” one grins.

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Liam WalshReporterLiam Walsh writes on investigations and companies with The Australian Financial Review. He has won multiple media awards, worked in Japan and is now based in Brisbane. Email Liam at liam.walsh@afr.com.au
Jenny Wiggins
Jenny WigginsInfrastructure reporterJenny Wiggins writes on business, specialising in infrastructure, telecommunications and transport. Connect with Jenny on Twitter. Email Jenny at jwiggins@afr.com

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Original URL: https://www.afr.com/companies/financial-services/the-7b-hangover-how-iag-was-sucked-into-lex-greensill-s-vortex-20240201-p5f1o4