Business
Credit Suisse ups pressure on Sanjeev Gupta with winding-up bid – The Australian Financial Review
Metals tycoon Sanjeev Gupta’s GFG Alliance suffered another blow in its effort to stay afloat after Greensill’s collapse, but said it would defend itself.
Nobody involved has formally confirmed the move, but media outlets cited multiple sources. The Financial Times said it had been told by a judge that winding-up petitions were private until they had been considered at a court hearing.
That process could take several weeks, casting a pall of uncertainty over GFG Alliance and the future of thousands of jobs and billions of dollars of assets in steel and aluminium worldwide, including in Australia.
GFG has been bullish about its prospects of refinancing…
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