Yesterday
Sanjeev Gupta strikes deal to stay afloat. For the fifth time
The embattled industrialist and Whyalla steelworks owner has offered his creditors yet another term sheet – one he says is necessary to save his UK operation.
- Hans van Leeuwen
This Month
Gupta ‘has reached the end of the road’ on $300m debt, court told
San Francisco investment giant White Oak Global Advisors has given the Whyalla steelworks owner 10 weeks to reach a settlement. He says he’s confident he can.
- Updated
- Hans van Leeuwen
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
October
- Exclusive
- Manufacturing
Gupta’s steel empire restructures global boards as troubles mount
The conglomerate behind the Whyalla steel mill has lost high-profile directors from its international boards, while a global advisory panel is entirely defunct.
- Kylar Loussikian and Hans van Leeuwen
- Updated
- Manufacturing
British courts pile more pressure onto Sanjeev Gupta
The Whyalla steelworks owner faces court action for not filing accounts, and a fresh legal battle to keep his European operations out of administration.
- Updated
- Hans van Leeuwen
The town bearing the brunt of Sanjeev Gupta’s financial nightmare
The British industrialist’s steelworks looms over Whyalla, population 21,900. There’s plenty at stake if things go south.
- Simon Evans
September
Sanjeev Gupta faces UK tax office blowtorch, auditor walkout
The billionaire’s GFG Alliance, which owns Whyalla Steelworks, has been mired in debt since the collapse of its Australian financier Greensill Capital.
- Hans van Leeuwen
Sanjeev Gupta buys on Sydney waterfront
The steel magnate is cutting jobs and salaries at the Whyalla steelworks one week, and splashing out for prime Sydney waterfront property the next.
- Myriam Robin
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
- Analysis
- Analysis
Why this Trump acolyte is key to finding some of Greensill’s billions
The fight to recover funds owed to Credit Suisse clients has landed with West Virginia coal baron and senate hopeful Jim Justice and a small Virginia bank.
- Updated
- Owen Walker and Joshua Franklin
Wages growth slows; Miners hail budget tax credits; BHP’s new pitch
Read everything that’s happened in the news so far today.
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
ASIC secretly probed IAG’s Greensill disclosure
As IAG raised $750m, a hedge fund’s tip-off claimed there was scant detail about exposure to fast financier Greensill Group. Since then, $7b in gross claims have been declared.
- Liam Walsh and Jenny Wiggins
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
Lex Greensill sues UK government over ‘misuse of private information’
The details of the Australian businessman’s claim against the UK’s Department for Business and Trade have not yet been made public.
- Rafe Uddin and Cynthia O’Murchu