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August 15, 2022
Finance Technologies

Greensill in crisis as regulators step in to freeze payments

Greensill, the Softbank-backed supply chain financer, is edging closer to a collapse as its backers pull out and regulators cease operation of one of its subsidiaries. Greensill Bank CEO, Lex Greensill Advised by former British prime minister David Cameron, the fintech has long been under the microscope. In January 2020, Australia’s ombudsman launched a formal review into Greensill’s practices, highlighting how it facilitates major firms taking advantage of smaller suppliers. Now the firm, which operates in the UK, Europe and Australia, is approaching bankruptcy. Key backers Credit Suisse, Tokio Marine and GAM Holding have withdrawn support totalling around £8 billion.…
Greensill in crisis as regulators step in to freeze payments

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