Creditors of Greensill Capital Pty, the Australian parent of the collapsed British supply chain financier, voted on Thursday to liquidate the company, its administrator said, triggering deeper investigations into the conduct of its directors, Reuters reported. Grant Thornton (GT), the liquidator appointed for the Australian parent and its operating companies in Britain, said the majority of 26 creditors owed A$4.6 billion ($3.6 billion) by the collapsed financier voted for liquidation.
In the March quarter 2021, personal insolvency fell 52.9% compared to the March quarter 2020, according to the latest personal insolvency statistics released by Australian Financial Security Authority (AFSA). There were 2,545 personal insolvencies in the March quarter 2021, a 52.9% fall compared to the March quarter 2020. There were falls in all states and territories. The number of personal insolvencies rose 5.8% compared to the December quarter 2020. By type of personal insolvency:
The lawyer handling the insolvency of Greensill Capital’s bank in Germany has asked his counterparts in the U.K. and Australia to cooperate on sifting through what’s left of the supply chain finance firm, Bloomberg News reported. The administrators should work together on securing and managing the firm’s assets, according to a spokesman for Michael Frege, the lawyer handling the insolvency of Greensill Bank AG. Frege filed a lawsuit in London to safeguard the legal position of the bank, the spokesman said Wednesday. The case was filed earlier this week, according to court records.