Insolvency RecordCASE FILES

United Kingdom / Australia ยท Supply chain finance

Greensill Capital group insolvency: proceedings and outcome

Greensill Capital, a supply chain finance group with a UK operating company and an Australian parent, collapsed in March 2021 after Credit Suisse froze about 10 billion USD of supply chain finance funds invested in Greensill products. Greensill Capital (UK) Limited entered administration on 8 March 2021 with liabilities of more than 1.6 billion GBP, according to the UK Insolvency Service. In June 2026 founder Lex Greensill gave a nine-year director disqualification undertaking.

Liquidated The main UK companies entered administration and other group companies in the UK and Australia entered liquidation. Greensill did not continue trading.1,2

First filing8 March 2021
Liabilities reportedGBP more than 1.6 billion
Proceedings3

Liabilities of Greensill Capital (UK) Limited on entering administration, per the Insolvency Service. Figures as of March 2021.2

Proceedings

TypeCourt or bodyCaseFiled
Administration1Administration of Greensill Capital (UK) Limited and Greensill Capital Management Company (UK) Limited, England and Wales8 March 2021
Administration, then liquidation1Greensill Capital Pty Limited (administration 9 March 2021, liquidation 22 April 2021), Australia9 March 2021
Liquidation (creditors' voluntary)1Greensill Limited, England and Wales30 July 2021

Timeline

  1. Credit Suisse froze about 10 billion USD in supply chain finance funds invested in Greensill products, according to the Financial Times as cited by Wikipedia.3
  2. German regulator BaFin filed a criminal complaint and banned activity at Greensill Bank, as reported by the FT and WSJ.3
  3. Greensill Capital (UK) Limited and Greensill Capital Management Company (UK) Limited entered administration.1
  4. Australian parent Greensill Capital Pty Limited entered administration, followed by liquidation on 22 April 2021.1
  5. Greensill Limited entered creditors' voluntary liquidation.1
  6. The Insolvency Service announced director disqualification proceedings against Lex Greensill, seeking a ban of up to 15 years.1
  7. The Secretary of State accepted a nine-year disqualification undertaking from Lex Greensill, effective from 23 June 2026, ahead of a trial due on 8 June.2

Related actions

  1. UK Secretary of State for Business and Trade (Insolvency Service). Accepted a disqualification undertaking from Alexander (Lex) Greensill banning him from acting as a company director for nine years from 23 June 2026. It is an undertaking, not a court order. The Insolvency Service said he caused or allowed Greensill Capital (UK) Limited to use 440 million USD received in November 2020 for purposes other than redeeming notes owed to a Credit Suisse supply chain finance fund. Directors giving undertakings agree not to dispute certain facts for the purposes of the proceedings only.2

Sources

  1. The Insolvency Service (GOV.UK), Outcome of investigation into the directors of the collapsed Greensill group (7 March 2024)
  2. The Insolvency Service (GOV.UK), Lex Greensill to be disqualified from acting as a company director in the UK for nine years (4 June 2026)
  3. Wikipedia, Greensill Capital (27 October 2026)