Greensill Accessed COVID Loans 'Without Proper Checks'

By Najiyya Budaly (November 22, 2021, 11:52 AM GMT) -- Britain's state-owned bank for business development carried out "woefully inadequate" checks into Greensill Capital when the finance firm, which collapsed in March, applied to lend money to businesses struggling during the coronavirus pandemic, a parliamentary committee has said.

The loans issued by Greensill appeared to break the lending limit for a group of companies, a parliamentary committee has said. (iStock) The Commons Public Accounts Committee said that the British Business Bank has put up to £335 million ($450 million) of taxpayer money at risk by failing to carry out proper due diligence checks into Greensill Capital (UK) Ltd. The struggling supply-chain...

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!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!