This Month
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
February
Santos in talks with Sanjeev Gupta on Whyalla steelworks upgrade
The oil and gas group says an upgraded steelworks may become the first third-party domestic customer for its $335m carbon capture and storage project at Moomba.
- Simon Evans
After Greensill’s collapse, IAG is trapped in a $7b court battle
This week on The Fin podcast, reporters Jenny Wiggins and Liam Walsh on how IAG became entangled in the Greensill Capital collapse and what’s next in the legal stoush.
- 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
Taxpayers to help fund coal-fired steel plant upgrade
Australia’s biggest steelmaker BlueScope will get $137 million in taxpayer funds to help pay for an upgrade of a coal-fired blast furnace making steel in the same way it has for decades.
- Simon Evans
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
December 2023
China, AUKUS and bin chickens: Australia through the eyes of the world
Foreign correspondents play a big part in how Australia is viewed in the world, and it’s not all Bondi and barbecues. Here’s how four of them see the posting.
- Sam Buckingham-Jones
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