Business
Greensill fights insurers as it prepares fire sale of business – Sydney Morning Herald
The supply chain financier has told the NSW Supreme Court if its insurance policies are not renewed it will spark a domino effect of corporate collapses in Australia…
The London-headquartered group announced on Tuesday night it was working on a deal to sell large parts of its business and assets under management to another financial institution by week end.
It would mark an unexpected end to the group founded in Bundaberg in 2011 by Lex Greensill and in the past year has been valued at $6 billion. Greensill was planning an initial public offering later this year.
Greensill provides a service known as supply chain financing that allows suppliers to big companies…
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