By restructuring this way it is thought that Gupta’s companies were able to access £billions in Covid loans via Greensill
The Gov refuses to put precise sums on it citing confidentiality.
Sorry.
It is taxpayer money and I think we are entitled to know how much they risked
The Gov refuses to put precise sums on it citing confidentiality.
Sorry.
It is taxpayer money and I think we are entitled to know how much they risked
https://twitter.com/pickardje/status/1382622577672212482
Wasn’t Gupta/ Liberty steel lent £millions previously in the Liberty Steel “save”?
Liberty owns 12 steel plants in the UK including in Rotherham, Motherwell, Stocksbridge, Newport and Hartlepool and provides over 5k jobs within the business, many high paying skilled jobs.
Liberty owns 12 steel plants in the UK including in Rotherham, Motherwell, Stocksbridge, Newport and Hartlepool and provides over 5k jobs within the business, many high paying skilled jobs.
These are often in areas where they are otherwise in short supply, commanding a wage more than 25% above the national average.
According to the BBC, for every one person directly employed (there are more than 30,000 in total), the industry supports two more livelihoods across the supply chain, plus more jobs in the local economy.
“Crucially, though, steel is seen as a strategic industry. It's integral to our national security & well-being, used in aircraft carriers, railways & hospitals.
Relying heavily on others such as China to provide runs the risk of supply disruption, particularly if relations sour.”
Relying heavily on others such as China to provide runs the risk of supply disruption, particularly if relations sour.”
Extraordinary to think that the ex commander of the Met Police, Hogan-Howe was a paid adviser to Greensill at the same time as working at the heart of Whitehall, including on NHS data related projects.
https://twitter.com/fascinatorfun/status/1382502150857711616
H/T @k8tshires for this: Even more extraordinary when one considers this story was from July 2019 referring to false statements made by Greensill in 2018.
“Financing group Greensill Capital, which is backed by Japan’s SoftBank Group and General Atlantic of the U.S., last year provided a false statement to market participants relating to bonds it had issued in 2017 on behalf of commodities tycoon Sanjeev Gupta.”
Greensill initially denied producing pre-sale documents relating to the Kinlochleven bonds or any updates regarding a guarantee. The company more recently confirmed it had produced the April 2017 pre-sale document and the May 2018 investor update
reuters.com/article/uk-gre…
reuters.com/article/uk-gre…
It absolved itself of responsibility by saying the update “was based upon information provided by GFG.”
Per @k8tshires “It's a Ponzi scheme.
The prospect of gov support had been a key reason Swiss asset manager GAM Holding AG purchasing the 220 million pounds of bonds a year earlier, because under the terms of the bonds it potentially meant a near-term repurchase at a higher price”
The prospect of gov support had been a key reason Swiss asset manager GAM Holding AG purchasing the 220 million pounds of bonds a year earlier, because under the terms of the bonds it potentially meant a near-term repurchase at a higher price”
HOW did our Gov keep giving it the power to release Gov backed loans in 2020?
When was Hogan-Howe an advisor to the company?
How reassuring is it that an ex Met Police Commissioner is a paid advisor to a company?
When was Hogan-Howe an advisor to the company?
How reassuring is it that an ex Met Police Commissioner is a paid advisor to a company?
This, from the Times, suggest the totality of the COVID loans to Gupta’s companies via Greensill was £400 mill. 5 times the normal amount and coming with an 80% Gov guarantee.
https://twitter.com/gabriel_pogrund/status/1383016502203449346
• • •
Missing some Tweet in this thread? You can try to
force a refresh
