{"id":109998,"date":"2021-03-19T05:56:03","date_gmt":"2021-03-19T05:56:03","guid":{"rendered":"https:\/\/fin2me.com\/?p=109998"},"modified":"2021-03-19T05:56:03","modified_gmt":"2021-03-19T05:56:03","slug":"greensill-creditors-made-over-1-4-billion-in-claims-in-australia-meeting-administrator","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/greensill-creditors-made-over-1-4-billion-in-claims-in-australia-meeting-administrator\/","title":{"rendered":"Greensill creditors made over $1.4 billion in claims in Australia meeting: administrator"},"content":{"rendered":"

SYDNEY (Reuters) – Administrators of collapsed British supply chain financier Greensill said on Friday 34 creditors submitted claims of more than A$1.75 billion ($1.35 billion) in a meeting with the company\u2019s Australian parent, Greensill Capital Pty.<\/p>

FILE PHOTO: Logo of Greensill Bank is pictured in downtown Bremen, Germany, March 10, 2021. REUTERS\/Fabian Bimmer\/File Photo<\/figcaption>

Grant Thornton, who were appointed administrators earlier this month, said in an emailed statement the claims had not been verified and excluded claims of employees of the Australian company, 35 of whom had been made redundant.<\/p>\n

Greensill\u2019s Australian parent provides administration and head office support to the London-based group that collapsed earlier this month after losing insurance coverage for its debt repackaging business, but operates \u201conly in a limited capacity\u201d, the statement said.<\/p>\n

A small number of staff had been kept to support the administrator, it added.<\/p>\n

A creditors committee had been appointed on Friday at the first virtual creditors meeting, which includes representatives of SoftBank, Credit Suisse, another unnamed creditor, and a representative of employees.<\/p>\n

Japan\u2019s SoftBank is a \u201csignificant\u201d creditor of the parent, and Credit Suisse holds security over some of its assets, according to a March 11 regulatory document filed by Grant Thornton.<\/p>\n

Also present at the meeting were the Australian Taxation Office, Australia\u2019s corporate regulator, the Attorney General\u2019s department and the Association of German banks.<\/p>\n

Grant Thornton also said it would provide a report to creditors in about three weeks and a second meeting of creditors would be held on April 22, where they would vote on whether to liquidate the company or accept a restructuring proposal.<\/p>\n

\u201cThe administrators confirmed to creditors that, at this stage, they had not received a Deed of Company Arrangement proposal for consideration,\u201d the statement said.<\/p>\n

($1 = 1.2932 Australian dollars)<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

SYDNEY (Reuters) – Administrators of collapsed British supply chain financier Greensill said on Friday 34 creditors submitted claims of more than A$1.75 billion ($1.35 billion) […]<\/p>\n","protected":false},"author":3,"featured_media":109997,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nGreensill creditors made over $1.4 billion in claims in Australia meeting: administrator - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/markets\/greensill-creditors-made-over-1-4-billion-in-claims-in-australia-meeting-administrator\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Greensill creditors made over $1.4 billion in claims in Australia meeting: administrator - 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