Business
Italian bank Aigis Banca collapses on exposure to Greensill Capital and GFG Alliance – The Australian Financial Review
Milan-based Aigis Banca was ordered into liquidation by the Bank of Italy at the weekend, with larger peer Banca Ifis buying its assets and liabilities for the…
With GFG defaulting on its debt to Greensill, buyers of the loans, which include Credit Suisses asset management arm, are facing big losses.
Aigis Bancas problems stemmed from investment products linked to invoices it had purchased from Greensill, according to people familiar with the matter. These included receivables-backed notes linked to Mr Guptas metals empire, with a document seen by the Financial Times showing that the bank had exposure linked to his Liberty Commodities business.
Mr Gupta…
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