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?
Greensill insurer Tokio Marine takes trade credit provisions
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Tokio Marine, the owner of the insurance group that guaranteed billions of dollars of securities packaged by Greensill Capital, has taken provisions for liabilities at its Australian trade credit business and confirmed it has hired external advisers to review its contracts with the supply-chain finance group.
The insurance group, which owns Sydney-based Bond & Credit Co, said on Thursday that it had swung to an annual loss in its Asia and Oceania business due to a “reserve provision for trade credit insurance in Australia”. Tokio Marine declined to comment on whether the provision was directly related to Greensill Capital, which collapsed in early March.
Tycoon Sanjeev Gupta s Father Leaves UK As Group Battles For Survival Tycoon Sanjeev Gupta s Father Leaves UK As Group Battles For Survival The senior Gupta has changed his country of usual residence from Britain to India, according to several filings made over the past few weeks at Companies House, the business registry.
Parduman Gupta, father of embattled metals tycoon Sanjeev Gupta, has moved out of the UK.
Parduman Gupta, father of embattled metals tycoon Sanjeev Gupta, has moved out of the U.K., just as the pair s GFG Alliance teeters on the brink following the collapse of its largest lender Greensill Capital.