Get 40% Off
These stocks are up over 10% post earnings. Did you spot the buying opportunity? Our AI did.Read how

Greensill Capital eyeing insolvency protection in Australia - FT

Published 02/03/2021, 10:37 pm
Updated 02/03/2021, 10:42 pm
© Reuters.

March 2 (Reuters) - Troubled supply chain finance firm Greensill Capital is seeking insolvency protection in Australia, the Financial Times reported on Tuesday, after Credit Suisse (SIX:CSGN) suspended $10 billion of funds linked to the London-based company's lending operations.

Greensill, backed by Japan's SoftBank Group 9984.T , is looking to invoke a "safe harbour" protection in Australia where its parent company is registered, the British newspaper said https://www.ft.com/content/cbd575ab-a59d-436c-bb06-a6b85ed18af8, citing people familiar with the matter.

The finance firm, founded by former Citigroup (NYSE:C) banker Lex Greensill in 2011, declined to comment to a Reuters request.

Grant Thornton, which the Wall Street Journal said on Monday was appointed by Greensill for advice on a possible restructuring, also declined to comment on the FT report.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.