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The Guardian - UK
The Guardian - UK
Business
Alex Lawson Energy correspondent

UK drops guarantees from £400m of Greensill loans to Gupta-linked firms

Lex Greensill Sanjeev Gupta United Kingdom FT British Business Bank BBB David Cameron Greensill Capital United States
Sanjeev Gupta
Greensill lent £400m to companies owned by or linked to Sanjeev Gupta in 2020 using the coronavirus large business interruption loan scheme. Photograph: Denis Charlet/AFP/Getty

The government has dropped guarantees made on £400m of loans from Greensill Capital to companies linked to the embattled metals tycoon Sanjeev Gupta.

The state-owned British Business Bank (BBB) said on Monday that it had “terminated” guarantees backing Greensill’s loans to large businesses after investigating its lending practices.

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