London | British metals magnate Sanjeev Gupta’s Liberty Steel group has signalled progress in its attempt to keep finance giant Credit Suisse at bay, as it races to refinance its Greensill-hit Australian and British steel operations.

Liberty Steel said in a statement late on Monday (AEST) that Mr Gupta and his new four-man restructuring team had held “very constructive and productive meetings” in Dubai at the weekend with Credit Suisse, its $US1.2 billion ($1.55 billion) creditor.