| Britain’s insolvency service has launched a court action to ban fallen Australian financier Lex Greensill from running or controlling any company for 15 years – the toughest possible penalty.
But a spokesman for Mr Greensill said the former billionaire from Bundaberg would contest the case, which was filed in the English high court on Thursday . The results of the Insolvency Service’s investigation have not been made public, but are expected to form the basis of the case it will bring to court. Detailed documents have not yet been filed.Greensill Capital’s collapse in early 2021 came after its main backer, Credit Suisse, discontinued the financing arrangements, operated through a $US10 billion group of funds, that had fuelled the company’s decade of stellar growth.