London | British industrialist Sanjeev Gupta, owner of the Whyalla steelworks and other Australian businesses, has “reached the end of the road” in his three-year struggle with a group of creditors seeking almost $US200 million ($300 million), a UK court has heard.
A judge in the English high court put a January 13 deadline on Liberty Commodities, one of Mr Gupta’s network of companies, to wrap up its drawn-out talks on a debt repayment deal with San Francisco-headquartered investment firm White Oak Global Advisors.
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clarification —
This article has been amended to reflect more clearly that Patrizia is no longer a party to the winding-up case.
Hans van Leeuwen is The Australian Financial Review’s former Europe correspondent. He is now International Economy editor for The Telegraph UK.
