Greensill UK administrators say have collected $3.7 billion so far



© Reuters. FILE PHOTO: The logo of Greensill Bank is pictured in downtown Bremen, Germany, July 3, 2019. REUTERS/Fabian Bimmer

LONDON (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.

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