Billionaire founder of Greensill Capital in talks to remain with firm despite its collapse
The billionaire founder of Greensill Capital is in talks to remain with the firm despite its collapse.
Friends of Lex Greensill said the banker is hoping to work for the company during the administration process.
Desire: Lex Greensill is said to be keen to work ‘voluntarily’ for the administrators and the business
The Australian is said to be keen to work ‘voluntarily’ for the administrators and the business, whose advisers include former Prime Minister David Cameron, to figure out a way of saving as much of the firm as possible.
Greensill – which specialises in providing small and medium-sized businesses with access to working capital finance to run their day-to-day operations – went into administration last week.
Yesterday reports suggested that British taxpayers are exposed to more than £1 billion of debt from the troubled business empire of Greensill and Sanjeev Gupta’s steel group GFG Alliance.
Greensill was unable to repay a £100million loan to Credit Suisse and had been hit by defaults from GFG Alliance, a key customer.
Greensill and administrator Grant Thornton declined to comment.