Greensill Administrator Capital will sue founder Lex Greensill

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The administrator of Greensill Capital has filed a lawsuit against its founder Lex Greensill and six other former Failed Financial Councilors, adding to the legal challenges facing the Australian financier.

The main company in the United Kingdom of Greensill Capital, which collapsed to the administration in March 2021, as part of a political and financial scandal, on Tuesday filed the lawsuit in the High Court of London.

Judicial records list the type of case as a “breach of fiduciary duty”, but the complete details of the claim and nature of the complaints against each of the accused are not yet available.

Administrator Grant Thornton, who is commissioned to regain funds on behalf of the bankruptcy of the failed company, wrote in a report this month that he was taking “recovery actions against third parties” and that he “had issued additional letters before the action against various parties”. The report added that the administrator had also “issued procedures” to try to recover $ 570,000 of loans made to “former employees”.

Demand is the latest legal action against Lex Greensill, the charismatic founder of the eponymous loan start-up, which forged close links to politicians such as the former Prime Minister of Britain. David Cameron and prominent business figures, including founding softbank Masayoshi son.

UK insolvency service launched last year Procedures to disqualify Lex Greensill of “running or control companies” up to 15 years, the maximum possible prohibition. Governing Agency’s complaints included that the now 48 -year -old financier made a “Series of wrong representations” on key insurance contracts.

Lex Greensill has previously rejected the insolvency service complaints against him and also claim The United Kingdom Business and Trade Department for alleged use of private information during insolvency service investigation.

Although the insolvency service did not take action against any former Greensill Capital counselor, judicial records show that six other former members of the Council have been appointed accused in the administrator’s demand: Alastair Eadie, Divya Eapen, Neil Garrod, Sean Hanafin, Jonathan Lane and Bartholomeus Ras.

Before incorporating in Greensill Capital as Financial CFO, Garrod was Vodafone’s treasurer for more than 18 years. The London Telecommunications Group was also an important customer from Greensill Capital, who specializes in providing funding to companies against their bills.

Eadie and Lane retained commercial links with Lex Greensill after the collapse of the firm, after having invested with the family of the Australian financier in a Start of sustainable coconut waste In 2022.

The Register of Solicitors of the Regulation Authority of the Solicitors lists the LANE workplace as a cultivation International UK, an investment vehicle linked to the Greensill family.

The collapse of Greensill Capital led to a loss of thousands of dollars for investors in their financial products, including the now defined Swiss Bank Credit Suisse and a German regional bank that was part of the largest Greensill group.

The firm’s most recent report shows that $ 8.4 million $ 17.7 million has not yet been refunded that Greensill Capital oversaw at the time of its collapse.

Lex Greensill did not respond to a comment request. The other six old counselors refused to comment or did not respond to a comment request. Grant Thornton refused to comment.