Greensill Capital has sought protection from Australias insolvency regime, as the finance group races to strike a rescue deal and another fund severed ties.
The company is hoping to invoke safe harbour protection in Australia, which shields directors from personal liability for a company trading while insolvent, according to people familiar with the matter.
Greensill specialises in supply chain finance, where businesses borrow money to pay their suppliers. It has been left scrambling after Credit Suisse on Monday suspended $10bn of funds linked to the firm, which counts former UK prime minister David Cameron as an adviser.
On Tuesday Swiss fund firm GAM said it would liquidate the $840m fund it co-managed with Greensill and end its fiv…
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