Yesterday
GFG Alliance drags its heels on paying Greensill Capital debts
Sanjeev Gupta’s global steel group has not yet paid any of the $900 million it owes to the collapsed supply chain finance firm, despite another debt deal in March.
- Jenny Wiggins
March
‘Chose not to disclose’: Greensill Group insurers dispute claims
Lex Greensill emailed an insurance underwriter in 2017 suggesting he “step up”. Years later, that relationship is under the microscope.
- Liam Walsh and Jenny Wiggins
Frantic emails show underwriters’ shock at Greensill Group exposure
The documents, filed in the Federal Court, also reveal Australian regulators were warned nine months before the fast-finance business imploded.
- Liam Walsh and Jenny Wiggins
Greensill Group underwriter suffered ‘breakdowns’ in policy safeguards
The man who signed off on billions of dollars of policies allegedly went around proper process and would receive “dinners, wine bottles” without disclosure.
- Jenny Wiggins and Liam Walsh
- Exclusive
- Insolvency
Greensill Group insurer allegedly asked Lex Greensill for charity donation
The key insurance man for the collapsed finance firm allegedly blamed “hubris” and “intoxication” for signing up policies that blew past his authorised limits.
- Jenny Wiggins and Liam Walsh
UK seeks to disqualify Lex Greensill from running companies
The fallen Australian financier says he will “robustly” contest the Insolvency Service’s court action, which seeks a 15-year directorship ban.
- Hans van Leeuwen
Lex Greensill sues UK government over ‘misuse of private information’
The details of the Australian businessman’s claim against the UK’s Department for Business and Trade have not yet been made public.
- Rafe Uddin and Cynthia O’Murchu
February
Santos in talks with Sanjeev Gupta on Whyalla steelworks upgrade
The oil and gas group says an upgraded steelworks may become the first third-party domestic customer for its $335m carbon capture and storage project at Moomba.
- Simon Evans
After Greensill’s collapse, IAG is trapped in a $7b court battle
This week on The Fin podcast, reporters Jenny Wiggins and Liam Walsh on how IAG became entangled in the Greensill Capital collapse and what’s next in the legal stoush.
- Investigation
- Insolvency
The $7b hangover: How IAG was sucked into Lex Greensill’s vortex
One of Australia’s most expensive corporate fights is in court. But how did the insurer targeted in the cases become entangled?
- Liam Walsh and Jenny Wiggins
January
Taxpayers to help fund coal-fired steel plant upgrade
Australia’s biggest steelmaker BlueScope will get $137 million in taxpayer funds to help pay for an upgrade of a coal-fired blast furnace making steel in the same way it has for decades.
- Simon Evans
Gupta’s GFG misses Credit Suisse payment after leveraging Australian arm
The steelmaking group missed an upfront cash payment, raising questions around a restructuring agreement penned in June between the company and its creditors.
- Aaron Weinman
December 2023
China, AUKUS and bin chickens: Australia through the eyes of the world
Foreign correspondents play a big part in how Australia is viewed in the world, and it’s not all Bondi and barbecues. Here’s how four of them see the posting.
- Sam Buckingham-Jones
November 2023
Credit Suisse has only itself to blame on Greensill, IAG claims
Funds run by the Swiss investment bank say they are out of pocket by $2.8b and should have been covered by Australian insurance.
- Liam Walsh and Jenny Wiggins
October 2023
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 2023
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 2023
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