The collapse of Greensill Capital
Mar 12, 2021
3 minutes
What’s happened?
he London-based finance firm Greensill Capital, one of the world’s biggest providers of supply-chain finance (letting firms borrow to pay suppliers), filed for administration on Monday, saying it was in “severe financial distress” and unable to pay back a $140m loan called in by Credit Suisse, its main backer. It also said it had been hit by defaults from a key customer, GFG Alliance, the global metals and commodities group run by Sanjeev Gupta, which was itself looking financially unsteady and in talks with lenders this week. Greensill’s filing for administration
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