The Insolvency Service confirms the outcome of its investigation into the directors of the collapsed Greensill group of companies.
A spokesperson for the Insolvency Service said:
We can confirm that the Insolvency Service has commenced director disqualification proceedings against Alexander (Lex) Greensill to have him disqualified from running or controlling companies for a period of up to 15 years in respect of his conduct as a director of Greensill Capital (UK) Limited and Greensill Limited.
As this matter is now a live case before the court it is not appropriate to comment further.
Further information:
Greensill Capital (UK) Limited and Greensill Capital Management Company (UK) Limited both entered into administration on 8 March 2021. Greensill Limited entered into Creditors’ Voluntary Liquidation on 30 July 2021. Greensill Capital Securities Limited entered into Creditors’ Voluntary Liquidation on 24 June 2022.
Greensill Capital Pty Limited was the parent company to the Greensill Group of which Greensill Capital (UK) Limited and Greensill Limited formed a part. It entered into administration in Australia on 9 March 2021 and then subsequently into liquidation in Australia on 22 April 2021. The Court can take account of a director’s overseas activity under the Company Directors Disqualification Act 1986.
Officials at the Insolvency Service have issued disqualification proceedings on behalf of the Secretary of State for Business and Trade in accordance with her powers under the Company Directors Disqualification Act 1986.The application to court has been made in the public interest.
Persons subject to disqualification orders and disqualification undertakings are bound by a range of restrictions, including not being able to be a director of any company registered in the UK or an overseas company that has connections with the UK, or being involved in the promotion, formation or management a company.
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