Greensill Boss Faces UK MPs Over Collapse, Lobbying

London, (UrduPoint / Pakistan Point News - 11th May, 2021 ) :Australian financier Lex Greensill faces a grilling by British lawmakers Tuesday over his collapsed company Greensill Capital, which has triggered fears of major job losses and accusations of political wrongdoing in the UK.

Greensill, whose group's demise has hit hard some of the world's biggest banks and risks thousands of steel-sector job losses worldwide, will appear before the cross-party Treasury Committee.

His appearance comes ahead of UK former prime minister David Cameron facing the same panel Thursday for questions focused on claims of improper government lobbying involving the London-headquartered company.

Greensill Capital, which filed for insolvency in March after having operated for a decade, had clients including steel empire GFG Alliance which employs thousands of workers worldwide.

Headed by Indian-British magnate Sanjeev Gupta, GFG runs Liberty Steel, which could be forced to shut some of its dozen UK plants following the collapse of its main financial backer, according to UK business Secretary Kwasi Kwarteng.

Greensill Capital's implosion threatens about 50,000 jobs overall at companies around the world that relied on its financing for their supply chains.