Business
Every man for himself: Gupta gives up on Greensill – The Australian Financial Review
GFG Alliance CEO Sanjeev Gupta is reportedly readying for much of the Greensill business to be put into administration after assets are sold off, and has stopped…
On Friday afternoon, Greensill was still trying to negotiate a rescue deal with New Yorks Apollo Global Management that would hand its best assets and operations to the US private equity group, leaving behind the rest – including any assets linked to GFG – to fall into insolvency protection in Australia and Britain.
The Greensill empire imploded this week after insurance policies provided by one of the groups biggest insurers, Bond & Credit Co (BCC), expired on Monday and Credit Suisse froze billions…
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