Business
Greensill Capital files for insolvency, administrators appointed – Sydney Morning Herald
Australian Lex Greensill’s supply finance firm filed for insolvency on Monday in London, its administrators said, days after losing investor funding and insurance…
The collapse of Greensill, whose founder received a state honour from Britain in 2018 for his services to the economy, could lead to a series of regulatory investigations and cause financing problems for its higher-risk borrowers.
Greensill said it had provided more than $US143 billion of financing in 2019 to 10 million customers and suppliers.
In Germany, where Greensill runs a bank, financial regulator BaFin has filed a criminal complaint with prosecutors in Bremen, where the lender is based….
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