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The Latest Breaking News from Greensill

‘Hopelessly insolvent’: how ‘saviour of steel’ Sanjeev Gupta’s global empire unravelled

This week’s collapse of the tycoon’s Yorkshire operations brought relief for some. It echoes insolvency steps at 15 of his companies

The Guardian - UK

Ministers line up plan to run Liberty Steel’s South Yorkshire plants in administration

Court is shown proposal to secure operations of SSUK, which employs 1,450 people

The Guardian - UK

Sanjeev Gupta readies last-ditch plan to save UK speciality arm of Liberty Steel

Attempt to secure pre-pack administration deal comes as government officials step up planning for its collapse

The Guardian - UK

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HMRC files winding-up petition against Sanjeev Gupta’s Liberty Steel pipes business

Hartlepool company says it has settled all payments but court filing is sign of pressure on tycoon’s empire

The Guardian - UK

Liberty Steel’s South Yorkshire operations lost £340m in four years

Exclusive: court documents lay bare crisis at Sanjeev Gupta’s steelworks as it struggles to find buyers in face of looming liquidation

The Guardian - UK

Liberty Steel has not produced anything at two key plants since July 2024

Lack of work at Rotherham and Motherwell sites highlights financial crisis at UK’s third-biggest steel producer

The Guardian - UK

Former head of bank linked to Greensill Capital fined by UK regulator

CEO of Wyelands Bank, part of steel magnate Sanjeev Gupta’s empire, committed ‘serious’ rule breaches

The Guardian - UK

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As another lobbying scandal erupts in the Conservative party, are tougher rules finally on the horizon?

Conservative MP Scott Benton has become the latest British politician to face suspension for breaking lobbying rules in what is becoming a regular cycle of scandals. Parliament’s committee on standards has recommended a 35-day suspension for Benton after he was alleged to have lobbied for the gambling industry and given…

The Conversation

‘He still has his political mojo’: David Cameron comes back from his shed

Allies say former PM was desperate to return to government, having failed to find a role that fulfilled him outside politics

The Guardian - UK

‘We’ve learned lessons’: the banker clearing up the £1.1bn fallout from the UK’s Covid loan scheme

British Business Bank chief Louis Taylor says he values roles that are ‘beyond the pure profit motive’

The Guardian - UK

Liberty Steel Group says it is nearing deal with Credit Suisse and Greensill

Sanjeev Gupta-owned firm stands to win reprieve from creditors’ insolvency proceedings

The Guardian - UK

'Transformation' Beckons for Embattled Credit Suisse

Battered by a series of scandals, rumors of financial trouble and plunging shares, Credit Suisse is preparing "transformation plans" to restore confidence in the Swiss banking giant. Ulrich Koerner, who took over as chief executive in August, is due to present the strategic review on October 27, AFP said. With…

Asharq Al-Awsat

Why Credit Suisse is battling rumours of a Lehman-style crash

Swiss bank’s plummeting share price has invited comparisons to the onset of the 2008 global financial crisis.

Al Jazeera

UK Government cancels loans to Sanjeev Gupta's group

Scottish Liberal Democrat economy spokesman calls for Scottish Government to end secrecy about its financial involvement

Insider UK

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Daily Mirror

Liberty Steel strikes four-month debt deal in boost to worried workers

The firm has been under pressure since the collapse of its main lender, Greensill Capital, last year

Insider UK

Liberty Steel reaches debt agreement with Greensill

Company says it is operationally strong, 'despite some economic headwinds'

The Guardian - UK

Sanjeev Gupta’s GFG Alliance fails to get winding-up order thrown out

Credit Suisse, one of Gupta’s main creditors, started insolvency hearings against GFG companies last month

The Guardian - UK

BrightHouse loan customers unlikely to get refunds, say administrators

Creditor Greensill has received big sum but Grant Thornton decides cost of assessing other claims is too high

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The Guardian - UK

Sanjeev Gupta’s GFG faces insolvency fight after Credit Suisse ends debt talks

Companies in metals empire owe the Swiss investment bank more than $1bn

Insider UK

UK regulators launch investigation into Sanjeev Gupta's accountant

Accountancy watchdog will probe the accounts of the company behind Liberty's Lochaber factory

The Independent UK

Investigation launched into Gupta accountants

King and King will be investigated for its role as auditors in signing off accounts for four Liberty Steel businesses over the past three years.

The Guardian - UK

Fund manager failed to declare benefits from Greensill, says UK regulator

FCA reveals Tim Haywood did not report dinner at Buckingham Palace or private jet trip to Sardinia

The Independent UK

Top investment director flew on Greensill’s private plane, officials say

The Swiss asset manager and its employee were fined a total of £9.3 million in December

The Guardian - UK

GFG Alliance launches high court action to reclaim aluminium smelter

US private equity fund that runs smelter says it could not accept payments from GFG because of allegation it broke Romanian law

The Independent UK

Nadhim Zahawi ‘instrumental’ in securing controversial Greensill loans, says steel magnate

Sanjeev Gupta thanked senior minister for help, letter shows

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