Business by Perry Williams, Jared Lynch 17th Mar 2021 8:45 AM
Premium Content Collapsed supply chain financier Greensill Capital has swung the axe with all its Australian staff losing their jobs and 500 staff in its UK office expected to be retrenched, bringing a swift end for the lender founded by Bundaberg farmer Lex Greensill and worth $6bn at Christmas. Greensill s head of Australian operations, Matthew Costello, paid an emotional tribute to his close friend Lex Greensill and revealed all 35 of the company s Australian staff had lost their jobs on Monday after the company was placed into liquidation. About 500 staff in Greensill s London operations are also expected to lose their roles imminently, The Australian understands, representing the vast majority of its UK operations.
Axe swings on hundreds of Greensill staff as empire implodes
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Bundy billionaire sacks entire Aussie workforce as empire implodes
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Bundaberg billionaireâs empire moves closer to crashing One of the key clients of Greensill Capital has told top Australian executives to put safeguards in place, as its main banker is likely to file for insolvency.
Business by Perry Williams, Nick Evans 5th Mar 2021 4:28 PM
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Subscriber only Sanjeev Gupta has told his top Australian executives its main banker Greensill Capital will likely file for insolvency, triggering GFG Alliance to make repayments on Greensill loans to an administrator rather than direct to its financier. The embattled industrialist, owner of South Australia s Whyalla steelworks, said he is preparing for the insolvency action to change the relationship between the high flying duo, with GFG seeking to protect its position by making payments in an administrator-type relationship.