The multi-billion dollar financial empire built by Bundaberg farmer’s son Lex Greensill faces unravelling.
London-based Greensill Capital, founded by Mr Greensill a decade ago, has appointed Grant Thornton to look at restructuring options as it faces the possibility of filing for insolvency, according to people familiar with the company. The financial strife came after Credit Suisse Group suspended $10bn of investment funds.
The potential insolvency of Greensill Capital, which offers finance to allows businesses to extend the time they have to pay bills, would spell the end of a dream run for Mr Greensill, whose views of capitalism were forged growing up on a melon and cane farm where his parents often waited years to be paid.
The fami…
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