Lex Greensill banned as company director for nine years after multi-billion-pound collapse Business The UK Insolvency Service has confirmed that financier Lex Greensill will face a nine-year ban from serving as a company director, after he signed a legally binding disqualification undertaking to resolve long-running enforcement proceedings just days before a scheduled High Court trial. The Insolvency Service, which opened its probe into him in 2022, filed a [...]
Lex Greensill seeks to throw out director ban Legal The government’s bid to disqualify the boss of collapsed lender Greensill Group from directing companies in the UK for 12 years should be thrown out as there “cannot be a fair trial”, the High Court has been told. The Department for Business and Trade (DBT) began proceedings against Lex Greensill in 2024 after the Insolvency [...]
Mandelson scandal proves it’s time to rewrite lobbying rules Opinion Peter Mandelson, the Prince of Darkness, operated in the shadows. Only improved transparency around lobbying can prevent the next scandal, says Alastair McCarpra Pete Brown’s book Clubland, on the history of Britain’s working men’s clubs, includes an account of early lobbying in Westminster. Faced with the potentially damaging 1902 Licensing Act, the Club & Institute Union [...]
The lobbying act as it stands is more loophole than law July 21, 2024 If the new government wishes to avoid lobbying scandals, it must change the law - fast, writes Rachel Clamp
UBS offers to repay former Credit Suisse clients 90 per cent of Greensill funds June 17, 2024 Swiss banking giant UBS has offered to repay former Credit Suisse clients 90 per cent of the funds they invested with specialist finance firm Greensill Capital, which collapsed in 2021.
Tighter Whatsapp lobbying rules would have revealed Greensill scandal, MPs say May 2, 2024 Stricter transparency rules on lobbying over Whatsapp would have resulted in the Greensill scandal being uncovered, a group of MPs has said.
Cameron refuses to say how much he was paid by Greensill Capital January 14, 2024 David Cameron today refused to confirm how much he was paid to lobby for Greensill Capital as he was questioned about his role at the firm again.
Credit Suisse files $440m claim against SoftBank from Greensill’s collapse April 19, 2023 Credit Suisse formally filed its $440m lawsuit against SoftBank earlier this month as it seeks to claim back funds which were locked in Greensill Capital when it collapsed in 2021. The legal action is the first since it was taken over by UBS last month. The bank said it “continues to prioritise maximising recovery for [...]
Credit Suisse took suspicious invoices as backing for £114m Greensill loan December 12, 2022 Credit Suisse accepted suspicious invoices from Sanjeev Gupta’s metals empire as collateral for a $140m (£114m) loan to Greensill Capital, just months before it collapsed in October 2020, according to reports. The Swiss bank accepted invoices, issued by Gupta’s Liberty Commodities and sold to Greensill, as collateral on the loan, even though several of the [...]
Greensill insolvency earns administrators £34m October 13, 2022 The collapse of the disgraced supply chain finance firm Greensill Capital has earned its administrators £34m in fees and expenses, according to reports.