Tens of thousands of jobs at risk as Greensill Capital moves closer to collapse

Court papers reveal extent of difficulties facing the global financier, with billions of dollars of loans now under a cloud

Global financier Greensill Capital has moved closer to a collapse that could cost tens of thousands of jobs in businesses in Europe, the US and Australia, after a court released papers that cast doubt on its insurance of A$10bn (£5.55bn) of loans issued to its customers.

The loans were underwritten by an insurance company, Tokio Marine, which was in a legal battle with Greensill, where former UK prime minister David Cameron is an adviser.

Continue reading...