Greensill Capital eyeing insolvency protection in Commonwealth of Australia: FT

Troubled supply chain finance firm Greensill Capital is seeking insolvency protection in Commonwealth of Australia, the Financial Times reported on Tuesday, after accredit Suisse suspended $10 a billion by funds linked to the London-based accompany lending operations.

Greensill, backed by Japanese Islands SoftBank Group, is looking for invoke an “safe harbour” protection in Australia where its parent company is registered, British newspaper said, citing people familiar with the matter.

The finance firm, founded by former Citigroup banker Lex Greensill in 2011, declined to comment to an Reuters request.

Grant Thornton, which the Wall Street Journal said on Mon was appointed along Greensill as advice on an possible restructuring, also declined to comment on the FT report.