A Year On, Greensill Still Has $9.3 Billion to Pay on Its Notes
- Note investors paid nearly $60 million for continued services
- Firm said it offered short-term trade finance investments
Lex Greensill, chief executive officer of Greensill Capital, gives evidence during a live steam of a Treasury Select Committee hearing into the collapse of his company, in London in 2021.
Photographer: Chris J. Ratcliffe/BloombergThis article is for subscribers only.
Greensill Capital collapsed more than a year ago, but $9.3 billion of assets sold to investors as notes are yet to pay out.
The lender, which collapsed in March 2021, sold short-term trade finance products to investors including funds run by Credit Suisse Group AG and GAM Holding AG. The investments were described as short-term products in fund documentation, rarely lasting any longer than 12 months.