Greensill Capital Seeks Insolvency Protection In UK
By Rick Archer (March 8, 2021, 12:59 PM EST) -- British financing group Greensill Capital has filed for insolvency protection in a United Kingdom court Monday after Credit Suisse cut off four of its funds and German financial regulators filed claims of balance sheet irregularities.
Last week Credit Suisse announced it was winding down $10 billion in four supply chain finance funds linked to Greensill because of uncertainty over their value and the reduced availability of insurance against risk.
The step came days after Germany's financial regulator, BaFin, filed a criminal complaint against Greensill Bank AG and closed down the group's subsidiary in the city of Bremen for balance sheet irregularities....
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!