Today
Lex Greensill ‘slippery and prone to lying’, court told
A former SoftBank executive disclosed the comment in a lawsuit brought by Credit Suisse fund after the collapse of Greensill Capital.
May
Sanjeev Gupta furious at risk of losing control of Whyalla port
The embattled British industrialist is set to have another asset seized while he tries to revive a “ghost” coal mine in NSW.
Greensill family whacks locals for waste fees
Once you make something free, it’s hard to wind that back. Even at bargain prices.
L1 proposes Platinum merger; Tesla seeks Musk successor; Bonkers rally
Read everything that’s happened in the news so far today.
Lex Greensill hit with more legal troubles
Greensill Capital’s administrator has filed a lawsuit against the Australian financier whose failed firm sparked a political scandal.
April
Greensill Bank alleges IAG executives knew of billion-dollar policies
The claim, filed with the Federal Court, has been brought against the insurance giant by German investors owed money by Lex Greensill’s failed financial group.
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.