Gupta’s Greensill Debt Deal Jeopardized by Australia Insolvency

Sanjeev Gupta’s settlement with creditors owed hundreds of millions of pounds hangs in the balance after the South Australian government placed one of his steelworks into administration last month.

Speciality Steel UK Ltd. successfully asked a London judge court to delay a hearing that would’ve approved restructuring of the company’s debts on Thursday. The bulk of the business’s creditors relate to funding provided to Gupta’s GFG Alliance by Greensill Capital before it collapsed in 2021.

Agreement on a deal between the Greensill creditors in GFG Alliance was reached last month, but has been scuppered by the decision of ...