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Good morning, early birds. Scott Morrison has rejected suggestions that Australians were “unfairly blocked” from their repatriation flight from India, and early-morning Israeli air raids in Gaza have killed at least 42 Palestinians. It's the news you need to know, with Chris Woods. ....
Save Share London | Sanjeev Guptaâs $430 million rescue deal for the Whyalla Steelworks looks to have collapsed, after Britainâs Serious Fraud Office launched an investigation âsuspected fraud, fraudulent trading and money launderingâ at his GFG Alliance. Mr Guptaâs white knight in Australia, White Oak Global Advisors, said late on Friday (Saturday AEST) that the SFOâs probe had pulled the plug on the rescue deal. Under pressure: Sanjeev Gupta. Dylan Coker âAs with any regulated financial institution, we are not in a position to continue discussions with any company that is under investigation by the Serious Fraud Office for money laundering,â the San Francisco-based firm said. ....
Gupta Loan Effort Ongoing Despite SFO Probe, White Oak Says yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.
Sanjeev Gupta’s plans to save his embattled industrial empire suffered a major setback as the U.K. opened a fraud investigation, prompting a potential financial partner to walk away. For two months, Gupta has been scrambling to refinance after the collapse of his group’s main lender, Greensill Capital, and recently looked close to winning a reprieve helped along by a surging commodity prices. But on Friday, the Serious Fraud Office announced a probe into Gupta’s GFG Alliance, including into the financing arrangements with Greensill. That prompted White Oak Global Advisors LLC which had recently offered a lifeline with terms for a 200 million-pound ($282 million) loan for Gupta’s U.K. steel business to walk away. White Oak was also behind funding for part of Gupta’s Australian assets, the Australian Financial Review has said. ....