Administrators of Greensill Capital hit several former directors with lawsuit

Wednesday 30 April 2025 5:57 pm
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Wednesday 30 April 2025 5:58 pm

The directors for the collapsed British monetary agency Greensill Capital have launched recent authorized motion towards a number of former administrators, together with Lex Greensill.

Greensill Capital, based by Alexander (Lex) Greensill, targeted on offering provide chain financing and associated monetary companies within the UK and Australia however collapsed in March 2021.

Former Prime Minister David Cameron was a senior adviser for Greensill and was embroiled within the scandal surrounding the agency after it was revealed he had lobbied senior ministers on behalf of the corporate.

Grant Thornton was appointed because the agency’s administrator, with BCLP instructed on authorized work.

Based on the Excessive Courtroom declare’s system, as seen by Metropolis AM, the directors have launched a brand new civil case on behalf of the collapsed agency.

Lex Greensill, Sean Hanafin, Divya Eapen, Alastair Eadie, Neil Garrod, Jonathan Lane, and Bartholomeus Ras are all named as defendants.

The declare, which was filed on Tuesday to the Enterprise Record of the Excessive Courtroom, is listed as a breach of fiduciary responsibility. Grant Thornton declined to remark.

Final 12 months, the Insolvency Service filed a director disqualification declare towards Lex Greensill.

The declare, filed by the Secretary of State for Enterprise and Commerce on behalf of the regulator, goals to “have him disqualified from operating or controlling corporations for a interval of as much as 15 years in respect of his conduct as a director of Greensill Capital (UK) and Greensill”.

This got here after he filed a declare in March 2024 towards the Division for Enterprise and Commerce over the alleged “misuse of personal info”.

The collapsed agency has been concerned in different authorized actions, together with the administrator for a German financial institution, Greensill Financial institution, owned by Greensill Capital was suing Zurich Insurance coverage for losses it claims had been lined by the Swiss insurer.

The agency is called in a number of proceedings and investigations in Australia.

Based on a current report by the directors, Grant Thornton was granted by the Excessive Courtroom an 18-month extension that is because of finish on 7 September 2026.

An administrator’s report final 12 months said that round $587.2m (£472m) from Sanjeev Gupta’s GFG Alliance was nonetheless owed. GFG Alliance was Greensill’s largest shopper, and it was reported on the time of the collapse that it had an publicity totalling $5bn.