Tottering Greensill puts fate of SCF clients in question

By Owen Sanderson
04 Mar 2021

Lawyers for struggling supply chain finance firm Greensill argued in court that over 50,000 jobs could be at risk from its collapse, precipitated by the withdrawal of credit insurance. But experts in the sector with knowledge of Greensill’s exposures argue that even Sanjeev Gupta’s Liberty Alliance empire could come out ahead.

In an injunction filed in Australian court just before its crucial credit insurance policy was set to expire, lawyers for Greensill said that a failure to renew the insurance contract, covering $4.6bn of payables, could lead to the loss of 50,000 jobs, including some 7,000 in Australia.

However, ...

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