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Gupta ‘has reached the end of the road’ on $300m debt, court told

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.

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    Original URL: https://www.afr.com/companies/manufacturing/gupta-has-reached-the-end-of-the-road-on-300m-debt-court-told-20241106-p5ko83