This Month
IAG to be hit with more Greensill-related insurance claims
US financier White Oak will allege that the insurers became aware in early-to-mid 2020 that there was, or might be, a problem with some policies.
- Jenny Wiggins and Liam Walsh
‘Serious problems were afoot’ at Greensill’s Australian insurer
Marsh McLennan breached its own code of conduct by failing to warn White Oak of issues with Greensill’s Australian insurer, courts have been told.
- Jenny Wiggins and Liam Walsh
September
Sanjeev Gupta returns to the UK after absence since GFG fraud probe
The SFO is investigating suspected fraud, fraudulent trading and money laundering in relation to the financing and conduct of companies within Gupta’s network.
- Jack Farchy, Katharine Gemmell and Jonathan Browning
August
Lex Greensill’s new investment is coconut waste
The shareholding is the financier’s first known investment since the collapse of Greensill Capital.
- Robert Smith
IAG discloses $7b in legal claims after Greensill Capital collapse
IAG is dealing with $7 billion in claims related to insurance provided by a former subsidiary including policies issued to collapsed financier Greensill Capital.
- Jenny Wiggins and Liam Walsh
Gupta claims Greensill assured him loan documents were ‘irrelevant’
Witness statements by the metals magnate say verbal agreements from the founder of the now-defunct financing firm underpinned billions in loans
- Robert Smith
Greensill transactions too far away from ‘real world’, IAG claims
The insurer is being pursued by the administrator of the collapsed financier for policies that covered its supply chain business.
- Jenny Wiggins and Liam Walsh
How Dubai became the centre of Sanjeev Gupta’s universe
The embattled metals tycoon has spent the past two years based in the emirate as he races to refinance $5 billion in Greensill loans. With a fraud investigation in the UK under way, and more debts due next year, can he pull through?
- Simon Evans, Hans van Leeuwen and Jemima Whyte
July
Credit Suisse fined $575m over Archegos fiasco
US and UK regulators have criticised “serious” and “significant” failings behind a multi-billion dollar trading loss at the defunct Swiss bank.
- Updated
- Stephen Morris
Lawsuit embroils IAG over Gupta’s Liberty Steel ‘$3b debt’
The case is the latest to raise questions about IAG’s oversight of an agency doing deals with the Greensill Group finance operation.
- Liam Walsh and Jenny Wiggins
June
Sanjeev Gupta’s InfraBuild tests bond investor interest
The metal recycling and distribution business has asked fund managers whether they would consider a yield of about 14 per cent.
- Robert Smith and Eric Platt
Lex Greensill and ex-Credit Suisse bankers face Swiss criminal case
The Australian financier has been named among suspects following two-year police investigation into the collapse of funds offered by bank.
- Owen Walker, Robert Smith, Cynthia O’Murchu and Sam Jones
May
BlackRock backs Sanjeev Gupta’s InfraBuild in $US350m refinance
The Australian steel business InfraBuild aims to buy three US businesses from parent GFG, with BlackRock and Silver Point behind a refinancing.
- Simon Evans
March
- Opinion
- Governance
Why it’s so hard to make bankers accountable
The more lenders that wobble, the easier it is for their leaders to claim that no one could have expected the problems, and the harder it is to prove criminal negligence.
- Brooke Masters
IAG’s brush with oligarchs, Greensill detailed in new court claim
A new lawsuit puts renewed questions on IAG’s oversight of the risks a half-owned insurance agency was signing up for.
- Jenny Wiggins and Liam Walsh
UBS Australia eyes Credit Suisse’s lucrative wealth arm
Credit Suisse’s private bank is the “jewel in the crown,” but its investment bank would be out in the cold if UBS takes over the firm.
- Aaron Weinman, Carrie LaFrenz and Jenny Wiggins
February
Greensill Capital insurer names Liberty Commodities in cross-claim
The financial services company’s key insurance agency alleges the collapsed firm was “deceptive” about how it represented customers’ dealings.
- Jenny Wiggins and Liam Walsh
January
Credit Suisse targets IAG in $3b Greensill insurance fight
Credit Suisse has made nearly $3 billion in claims against insurer IAG after the collapse of Greensill Capital, the bank has revealed.
- Jenny Wiggins and Liam Walsh
Citi claims supply chain finance ‘more important than ever’
Almost two years after Greensill Capital collapsed, Citigroup is pitching supply chain finance schemes as a tool for tackling rising inflation and interest rates.
- Jenny Wiggins
- Exclusive
- Agriculture
The battle of Saughall fields: What Lex Greensill did next
The fallen Australian billionaire tried to buy 200 hectares of farmland near his village so the view from his home isn’t spoiled. Now the town is tearing itself apart over the plan.
- Hans van Leeuwen
