February
Brian Hartzer, Gandel family back $45m insurance start-up UpCover
The company, which has just finished raising more money, is attempting to disrupt the commercial insurance industry that has long been dominated by two brokers.
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.
‘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.
August 2023
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.
March 2023
TA Associates’ Honan Insurance rolls up broker market
TA Associates-backed insurance broker Honan Insurance Group is on an M&A hot streak,
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.
December 2022
Shareholder class actions rise despite more stringent disclosure laws
The number of class actions lodged by aggrieved investors has risen in the past 12 months.
July 2022
US lawsuit against Greensill Capital dismissed
The supply chain finance group and its founder Lex Greensill have avoided responding to allegations by former client Bluestone Resources after the US coal miner dropped its lawsuit.
June 2022
Greensill Capital liquidation to drag on until 2024
More than $4.6 billion of financial claims remain outstanding against Greensill Capital’s Australian parent group but could remain unresolved until the end of 2024 as they get bogged down in litigation.
May 2022
Revealed: Lex Greensill accused of fraud
Fallen Australian financial wizard Lex Greensill has been accused of hiding details of related-party deals and phantom customers when securing insurance for some of his firm’s biggest clients.
March 2022
IAG hit with $300m of claims linked to Greensill Capital collapse
The insurer says it was in the dark about policies a half-owned insurance agency was signing.
October 2021
Big questions still hang over Greensill Capital and GFG
Seven months on from the collapse of Greensill Capital, founder Lex Greensill remains holed up in England while GFG Alliance boss Sanjeev Gupta has been partying on a Greek island.
Greensill Capital insurer BCC gets new Australian boss
The Australian CEO of Bond & Credit Co has been replaced as the group prepares to fight insurance claims linked to the collapse of the supply chain finance firm.
June 2021
Greensill Capital sold $21b of ‘future receivables’ in 2020
Documents released under FOI laws reveal GFG Alliance boss Sanjeev Gupta wrote to the NSW Premier around the time of Greensill Capital’s insolvency to warn of a “complex and fluid situation”.
Directors’ liability insurance rises 200pc
A huge rise in premiums for directors’ liability insurance for ASX 200 companies has led some businesses to withdraw from products or sign up for huge excesses.
April 2021
Bond & Credit Co hit with lawsuit from Thera Agri Capital
The trade credit insurer that guaranteed billions of dollars of Greensill Capital’s securities is being sued by another client, Thera Agri Capital, over alleged contract breaches.
March 2021
UK’s Wagestream buys Greensill’s Earnd
Greensill Capital’s Australian administrators have confirmed their first asset sale, with the UK’s Wagestream striking a deal to buy fintech group Earnd.
Greensill income built on high risk
Greensill Capital’s biggest source of income was buying and selling invoices from risky companies that required insurance, court documents have revealed.
Credit Suisse, Greensill family trust lead claims battle
Credit Suisse has warned it could take a financial hit from Greensill’s collapse despite having security over the firm’s assets, while the Peter Greensill Family Trust is owed US$60 million.
Insurers feared ‘very large amounts’ of Greensill exposure
Greensill Capital has been slapped down by the NSW Supreme Court for a last-ditch attempt to force its insurers into extending coverage on some $US4.6 billion of packaged securities.