Credit Suisse Group AG is seeking to push one of Sanjeev Gupta’s key commodities-trading units into insolvency, presenting a new threat to his metal empire after the collapse of his biggest lender.
The application to wind up Liberty Commodities Ltd. was filed in the U.K.’s insolvency court late Tuesday by a unit of Citigroup Inc. Citi was acting under instructions from Credit Suisse, according to a person familiar with the matter who asked not to be identified discussing private information.
The move marks a dramatic turn for the worse in Gupta’s battle to secure the survival of his corporate ...
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