Greensill accessed COVID loans “without proper verification”

By Najiyya Budaly (Nov 22, 2021, 11:52 a.m. GMT) – The state-run business development bank ran “pitifully inadequate” checks on Greensill Capital when the collapsed financial firm sought to lend money to companies that were hit during the coronavirus crisis. A parliamentary committee said that the pandemic had to fight.

The loans granted by Greensill appeared to exceed the credit limit for a group of companies, said a parliamentary committee. (iStock) The Commons Public Accounts Committee said the British Business Bank has put up to £ 335 million ($ 450 million) in taxpayers’ money at risk by failing to conduct proper due diligence on Greensill Capital (UK) Ltd -Chain…

Stay ahead of the curve

In the legal profession, information is the key to success. You need to know what is happening to customers, competitors, practice areas and industries. Law360 offers the intelligence you need to stay an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, type of lawsuit, etc.)
  • Access to attached documents such as Briefs, petitions, complaints, decisions, motions, etc.
  • Create custom notifications for specific article and case topics, and more!


Source link

About Nina Snider

Check Also

Call for urgent regulation of UK lenders who buy now, pay later | Borrowing & Debt

Lenders who buy now and pay later need urgent regulation to prevent young consumers from …