Yesterday
Greensill animal spirits resurrected at Barrenjoey
The bank’s new credit product partners with a fund that has spun out of the Greensill Capital collapse.
March
IAG seeks to delay trial on $7b Greensill insurance claims
Greensill Capital’s biggest insurer is less than a year away from defending claims that were lobbed after Lex Greensill’s financing firm collapsed in 2021.
February
Sanjeev Gupta’s last best asset faces a Ben Brazil-shaped problem
The former Macquarie dealmaker says the British industrialist’s InfraBuild must buy back $800 million in bonds. The company says it is a “nuisance complaint”.
Gupta says Whyalla seizure ‘unprecedented’ and ‘wrong’
In an internal memo to his executives, the British industrialist defended his time running the steelworks, suggesting legal action to recover debts owed to him.
Gupta poised for $800m sale of Tahmoor coal mine, debt deal nears
Sanjeev Gupta says selling the NSW mine will aid the Whyalla steelworks, but a sceptical SA premier thinks the steel entrepreneur is running out of time.
Lex Greensill scores a rare win in the British courts
The businessman and his failed financing empire is at the centre of a series of legal claims that has drawn in IAG and creditors who lost billions of dollars.
Greensill creditors’ $7b pursuit of IAG could be sent to sixth judge
Companies chasing billions of dollars argue a recently appointed Federal Court judge might be seen to be biased because he once acted for one of the parties.
January
Gupta surprises Davos crowd with a rare appearance. Here’s why
The industrialist has been promising for years to repay creditors owed hundreds of millions. In an interview, he says he is “in the last furlong now”.
November 2024
IAG didn’t register Greensill Capital insurer with ASIC: court claim
Greensill Capital’s key insurance agency did not have approval from regulators to act as an insurer when it was half-owned by $20 billion group IAG, new court documents allege.
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.
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.
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.
October 2024
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.
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.
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.
September 2024
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.
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.
July 2024
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.
May 2024
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.
Wages growth slows; Miners hail budget tax credits; BHP’s new pitch
Read everything that’s happened in the news so far today.