The Australian operations of Greensill Capital officially ceased at 5pm yesterday, raising questions about impacts to Australian agricultural companies which accessed supply chain finance through firm.
It is understood Greensill Australia employed about 40 staff, based mainly in Sydney, who were advised of their retrenchments with immediate affect yesterday.
Parent company Greensill Capital filed for insolvency in the United Kingdom last week after a failure to secure ongoing insurance coverage for its global supply chain financing business and concerns over its asset valuations led to major partners including Credit Suisse withdrawing funding support. Corporate insolvency firm Grant Thornton was appointed as administraotrs of the UK an…
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