Business
Greensill files for insolvency, raises Gupta concerns – The Australian Financial Review
Court documents say Sanjeev Gupta’s GFG Alliance worried it could fall into insolvency if Greensill could no longer provide it with working capital.
But the drumbeat of concern about GFGs financial health is gaining intensity. The BBC said British trade unions were demanding a meeting with GFG subsidiary Liberty Steel, the countrys third-largest steelmaker, to seek assurances about the future of steel jobs.
And Libertys CEO, John Ferriman, met Business Secretary Kwasi Kwarteng over the weekend. The British government has previously felt the need to step in when steelmakers falter.
The court documents underscore the unravelling of the previously…
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