This Month
Lex Greensill scuttles English farm project
The fallen financier says he is – for now – no longer buying a 502-acre tract of park and farmland in his home village, Saughall, amid an entrenched local rift.
- Hans van Leeuwen
July
Lex Greensill accused of misconduct in UK legal twist
Details of the UK Insolvency Service’s lawsuit against the Australian emerged after the High Court in London ordered a partial release of documents.
- Cynthia O’Murchu and Robert Smith
May
Lex Greensill alleges his UK pursuers were protecting David Cameron
The fallen Aussie financier alleges a media leak by Britain’s Insolvency Service, which is seeking to ban him as a company director, was politically motivated.
- Hans van Leeuwen
April
GFG Alliance drags its heels on paying Greensill Capital debts
Sanjeev Gupta’s global steel group has not yet paid any of the $900 million it owes to the collapsed supply chain finance firm, despite another debt deal in March.
- Jenny Wiggins
March
‘Chose not to disclose’: Greensill Group insurers dispute claims
Lex Greensill emailed an insurance underwriter in 2017 suggesting he “step up”. Years later, that relationship is under the microscope.
- Liam Walsh and Jenny Wiggins
Frantic emails show underwriters’ shock at Greensill Group exposure
The documents, filed in the Federal Court, also reveal Australian regulators were warned nine months before the fast-finance business imploded.
- Liam Walsh and Jenny Wiggins
Greensill Group underwriter suffered ‘breakdowns’ in policy safeguards
The man who signed off on billions of dollars of policies allegedly went around proper process and would receive “dinners, wine bottles” without disclosure.
- Jenny Wiggins and Liam Walsh
- Exclusive
- Insolvency
Greensill Group insurer allegedly asked Lex Greensill for charity donation
The key insurance man for the collapsed finance firm allegedly blamed “hubris” and “intoxication” for signing up policies that blew past his authorised limits.
- Jenny Wiggins and Liam Walsh
UK seeks to disqualify Lex Greensill from running companies
The fallen Australian financier says he will “robustly” contest the Insolvency Service’s court action, which seeks a 15-year directorship ban.
- Hans van Leeuwen
February
How IAG was sucked into Lex Greensill’s vortex, and nine other great reads
Welcome to the weekend. To start off your day, we’ve curated 10 great reads to enjoy.
- Investigation
- Insolvency
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?
- Liam Walsh and Jenny Wiggins
January
Gupta’s GFG misses Credit Suisse payment after leveraging Australian arm
The steelmaking group missed an upfront cash payment, raising questions around a restructuring agreement penned in June between the company and its creditors.
- Aaron Weinman
November 2023
Credit Suisse has only itself to blame on Greensill, IAG claims
Funds run by the Swiss investment bank say they are out of pocket by $2.8b and should have been covered by Australian insurance.
- Liam Walsh and Jenny Wiggins
Gupta’s InfraBuild seeks $544m in fresh debt to stave off lenders
There remains uncertainty around the consolidated group’s ability to complete the planned capital markets transaction, the Australian steel business warned.
- Simon Evans
October 2023
IAG to be hit with more Greensill-related insurance claims
US financier White Oak will allege that the insurers became aware in early-to-mid 2020 that there was, or might be, a problem with some policies.
- Jenny Wiggins and Liam Walsh
‘Serious problems were afoot’ at Greensill’s Australian insurer
Marsh McLennan breached its own code of conduct by failing to warn White Oak of issues with Greensill’s Australian insurer, courts have been told.
- Jenny Wiggins and Liam Walsh
August 2023
IAG discloses $7b in legal claims after Greensill Capital collapse
IAG is dealing with $7 billion in claims related to insurance provided by a former subsidiary including policies issued to collapsed financier Greensill Capital.
- Jenny Wiggins and Liam Walsh
Greensill transactions too far away from ‘real world’, IAG claims
The insurer is being pursued by the administrator of the collapsed financier for policies that covered its supply chain business.
- Jenny Wiggins and Liam Walsh
February 2023
Greensill Capital insurer names Liberty Commodities in cross-claim
The financial services company’s key insurance agency alleges the collapsed firm was “deceptive” about how it represented customers’ dealings.
- Jenny Wiggins and Liam Walsh
January 2023
Credit Suisse targets IAG in $3b Greensill insurance fight
Credit Suisse has made nearly $3 billion in claims against insurer IAG after the collapse of Greensill Capital, the bank has revealed.
- Jenny Wiggins and Liam Walsh