Business
Tens of thousands of jobs at risk as Greensill Capital moves closer to collapse – The Guardian
Court papers reveal extent of difficulties facing the global financier, with billions of dollars of loans now under a cloud
Global financier Greensill Capital has moved closer to a collapse that could cost tens of thousands of jobs in businesses in Europe, the US and Australia, after a court released papers that cast doubt on its insurance of A$10bn (£5.55bn) of loans issued to its customers.
The loans were underwritten by an insurance company, Tokio Marine, which was in a legal battle with Greensill, where former UK prime minister David Cameron is an adviser.
Court filings show the insurer told Greensill it would withdraw…
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