London | Australian billionaire Lex Greensill’s imploding $6 billion finance firm has formally entered administration in Britain, with a court filing that throws fresh doubt on the finances of the company’s biggest client, British steel tycoon Sanjeev Gupta’s GFG Alliance.
In documents that will further sour the apparently deteriorating relationship between Greensill and GFG, Greensill’s court filing for insolvency at its British arm said the steel tycoon’s network of companies was “currently experiencing financial difficulties”.
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Hans van Leeuwen covers British and European politics, economics and business from London. He has worked as a reporter, editor and policy adviser in Sydney, Canberra, Hanoi and London. Connect with Hans on Twitter. Email Hans at hans.vanleeuwen@afr.com
