Greensill UK administrators say have collected $3.7 bln so far

  • 5/7/2021
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LONDON, May 7 (Reuters) - Greensill Capital’s UK business had $17.7 billion in assets under management at March 8, of which $3.7 billion has been collected as of April 16, its administrators Grant Thornton said on Friday. The supply chain finance firm, which lent money to firms by buying their invoices at a discount, collapsed in March 2021 after insurers pulled their cover. The administrators proposed in a statement that the administration would end with the voluntary liquidation or dissolution of Greensill Capital UK and Greensill Capital Management UK, after a sale attempt fell through earlier this year. A British parliamentary committee said separately on Friday that former Prime Minister David Cameron - who worked for Greensill - and the company’s founder Lex Greensill would be questioned by lawmakers next week over the failure of the firm. (Reporting by Carolyn Cohn and Iain Withers Editing by Rachel Armstrong) Our Standards: The Thomson Reuters Trust Principles.

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