France to help staff at risk from Greensill insolvency, Finance Minister says

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The French government stands ready to help any workers at steel sites such as Ascoval that might be affected by the insolvency of Greensill Capital, Finance Minister Bruno Le Maire told France 2 TV on Tuesday.

Greensill Capital filed for insolvency on Monday, days after losing investor funding and insurance coverage for its supply chain financing business.

Liberty Steel, which runs sites in France, is part of GFG Alliance, a conglomerate owned by the family of tycoon Sanjeev Gupta and one of Greensill’s biggest customers.

 

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