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The Latest Breaking News from GFG

The ‘scary’ state of Whyalla steelworks’ bank balance revealed by administrators

Scathing assessment shows operation was losing $1.5m a day, running low of critical materials and owed creditors more than $1.3bn

The Guardian - AU

Sanjeev Gupta was once seen as Whyalla’s ‘saviour of steel’. Seven years later, he may walk away

Government intervention has placed the plant in administration, stripping the magnate’s GFG Alliance of control. Will he fight back?

The Guardian - AU

What went wrong at Whyalla steelworks and will it end with SA government in legal fight with UK billionaire?

Issues between GFG, Sanjeev Gupta and SA government grumbled along for years, before dramatic events forced company into administration

The Guardian - AU

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With Whyalla steelworks forced into administration, Australia has crucial decisions to make on the future of its steel industry

Whyalla is a proud steel town. The steelworks physically dominates the townscape, and most jobs in the town are either directly at the steelworks or heavily reliant on it.

The Conversation

Taxpayers to the rescue of Aussie steel

Safeguarding sovereign steel production is a key factor in a $2.4 billion government package to keep a major steelworks running while a new owner is found.

AAP

Steelworks forced into administration to 'save' future

South Australia has ended months of uncertainty over a critical steelworks by placing the plant into administration.

AAP

Billionaire to sell coal mine to prop up steelworks

Proceeds from a coal mine sale will be used to pump cash into the troubled Whyalla steelworks in a major debt deal.

AAP

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Troubled steelworks in refinance bid as pressure mounts

Whyalla's steelworks are "vigorously finalising new financing", as a premier intensifies pressure on its owners to pay tens of millions of dollars of debt.

AAP

Premier lifts pressure on steelworks as debts grow

A global company must pay its creditors and demonstrate its capacity to invest in the Whyalla steelworks, SA Premier Peter Malinauskas has warned.

AAP

‘National disaster’ if troubled Whyalla steelworks falls over, SA premier warns

Peter Malinauskas calls situation ‘tricky’ but says state government will continue to monitor Sanjeev Gupta’s GFG Alliance and act where it can

The Guardian - AU

It’s been seven years since the ‘saviour of steel’ arrived in Whyalla. But hopes for a green transition are fading

The global race to upgrade coal operations is proving difficult. At South Australia’s struggling steelworks, taken over by Sanjeev Gupta’s firm, jobs have been lost and promises to invest remain unfulfilled

The Guardian - AU

Sanjeev Gupta prosecuted for failing to file accounts for more than 70 companies

Steel tycoon faces enforcement action from UK business regulator, which could lead to fine or disqualification

The Guardian - UK

David Cameron’s activities at Greensill a ‘matter of interest’ in wider fraud inquiry

Exclusive: Sources claim SFO has questioned witnesses on ex-PM’s role at scandal-hit firm and its links to Indian conglomerate GFG

The Guardian - UK

Former head of bank linked to Greensill Capital fined by UK regulator

CEO of Wyelands Bank, part of steel magnate Sanjeev Gupta’s empire, committed ‘serious’ rule breaches

The Guardian - UK

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The Guardian - UK

David Cameron must detail all involvement with Greensill, urges Labour

Call follows Guardian revelations about foreign secretary’s flights gifted to him during Greensill work

The Hindu

Gun for Glory ropes in Peter Sidi as rifle coach

Peer Sidi

The Guardian - UK

Wyelands Bank rebuked by Bank of England for regulatory failings

Central bank decides against £8.5m fine because of collapsed firm’s ‘limited resources’

Daily Mirror

Steel rescue plan could save 250 jobs if court agrees, says Liberty Steel boss

The High Court in Manchester will tomorrow hear an application by GFG Alliance to overturn the administration process slapped on Aartee Bright Bar last month

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The Guardian - UK

Liberty Steel Group says it is nearing deal with Credit Suisse and Greensill

Sanjeev Gupta-owned firm stands to win reprieve from creditors’ insolvency proceedings

The Guardian - UK

Sanjeev Gupta’s auditor quit over ‘lack of information’

King & King cites concerns over whether metals businesses could remain solvent

Insider UK

Liberty Steel Dalzell parts ways with auditor

Accountancy firm King & King is being investigated by the UK's accounting regulator

The Guardian - UK

Auditor resigns from Sanjeev Gupta’s UK steel companies

Turmoil continues at businessman’s empire as King & King is investigated by accounting regulator

The Guardian - UK

Sanjeev Gupta’s GFG Alliance fails to get winding-up order thrown out

Credit Suisse, one of Gupta’s main creditors, started insolvency hearings against GFG companies last month

Daily Record

Metals firm handed £586m Scottish Government support package facing court bankruptcy fight

Taxpayers could be hit with crippling losses if businessman Sanjeev Gupta’s GFG Alliance goes under as a result of the controversial deal signed by SNP ministers.

The Guardian - UK

Sanjeev Gupta’s GFG faces insolvency fight after Credit Suisse ends debt talks

Companies in metals empire owe the Swiss investment bank more than $1bn

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