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How the Greensill scandal could have left taxpayers on the hook for £335m

Report from the National Audit Office crunches the key numbers on how it all went wrong for the supply chain finance firm

By Justin Cash
Australian financier Lex Greensill has had to appear before MPs over what was behind the collapse of his company
Australian financier Lex Greensill has had to appear before MPs over what was behind the collapse of his company Photo: Getty Images/Chris J. Ratcliffe

Like watching a car crash in slow motion, it seems revelations about the collapse of Greensill Capital are never-ending.

On 6 July, the National Audit Office conducted one of the most thorough reviews into the affair to date — a 56-page report on how and why the British Business Bank decided to authorise Greensill Capital to give out emergency Covid-19 loans despite lingering credit issues.

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How Morgan Stanley Courted Dodgy Customers to Build a Wealth-Management Empire

How Morgan Stanley Courted Dodgy Customers to Build a Wealth-Management Empire

Welcome to the World of 24-Hour Stock Trading

Scott Bessent Sees a Coming ‘Global Economic Reordering.’ He Wants to Be Part of It.

Northvolt’s Bankruptcy and the EV Crash

Atos Jumps on French State Bid for Advanced Computing Business