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Liberty Steel wants to buy time, but who will want to snap up its assets?


Still, a standstill agreement with Credit Suisse, assuming the “advanced discussions” culminate in a deal, could buy Gupta some time to attempt to refinance the UK operations, which is the critical piece of the jigsaw after the collapse of Greensill Capital in March.
Plan A was a £200m loan from San Francisco-based investor White Oak Global Advisers, but it was pulled after the Serious Fraud Office announced an investigation into the financing of Gupta’s steel business. More time to work on a plan B is helpful – but only if a lender can actually be found.
Elon Musk’s cryptic tweets are saving Tesla a fortune in advertising ....

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