Greensill’s 2014 private loans to related parties
Having learned about finance from the collapse of the three largest Icelandic banks in 2008, I’m always curious to see companies rapidly enjoying an incredibly rapid success only to drop into ignominious bust. The latest is Greensill Capital. Lex Greensill was clearly good at building relationships and generosity is one way of doing it. Buried in Greensill Group’s accounts are generous loans to people connected to Greensill.
To begin with, Greensill’s companies were just like thousands of others UK companies registered in Company House, i.e. not much going on. The annual accounts for 2013 were filed as “accounts for a small company,” signed by Grant Thornton. The auditor for the first two Greensill companies, Grant Thornton resigned in July 2015, no reason given.
The auditors for the accounts of Greensill’s main UK company, Greensill Capital (UK) Ltd, for the following years, from 2014 to 2019, the last one available, was Saffery Champness, a top 20 firm of Chartered Accountants and Registered Fiduciaries but nowhere near the Big Four.
There are thirteen companies registered in the UK, related to Lex Greensill, three of which are in administration according to Company House. And in one of these is a story of very generous loans to people related to the Greensill sphere.
The story of the London beginnings: private loans
According the 2014 accounts, Lex Greensill was the ultimate controlling party of the Greensill Capital (UK) Ltd and his Australian Greensill Capital Pty. Ltd the ultimate parent company.
The 2014 accounts tell various interesting stories. One of them, from the accounts for the Australian mother company shows loans to related parties, in total almost AU$100m, quite a bit at the time when Greensill’s UK profit was AU$1,6m. Also, the loans started in 2013.
Like Lex Greensill, David Brierwood is a former Morgan Stanley banker. He was a director of the UK Greensill Capital from January 1 2015 until January 22 2018, according to Company House. Brierwood fits into Greensill’s political newworking, which could have been hugely important for his business. Brierwood was a Crown Representative at the Cabinet Office from October 2014 to June 2018, according to his LinkedIn profile, as The Guardian has pointed out.
In 2014, Brierwood had profited from a private loan from Greensill’s Australian company. It seems safe to conclude that SD Brierwood might be a close relative of Brierwood.
It is interesting to note that the Brierwoods combined loan is AU$12,192,000 – the same amount that two other companies got. Maurice Thompson is another Greensill director, who was with Greensill from September 25 2015 until he resigned on the same day as Brierwood. V Thompson might be Vivien Thompson.
Columbiana Restaurant 1 LLC has been (as documented in 2001) owned by John E Gorman, an American entrepreneur, who was a Greensill director until February this year. By far the highest loan, in addition to the Columbiana loan, seems to have been for Gorman.
Fairmac Realty Corp is a Delaware company, apparently a subsidiary of CBI Industries, a holding company for oil and gas, forestry, waste water and real estate, with no visible connection to Greensill. Who M & S Carusillo are is unclear.
There is a Las Vegas asset management company, called Ratamacue Corp, among shareholders in the Australian Greensill company. The man behind the Las Vegas company is David Solo, an elusive player in international finance, who apparently in 2015 introduced Lex Greensill to GAM, where Solo had worked. The GAM connection was a massive boost for Greensill massively but less profitable for GAM, another intriguing chapter in the Greensill saga. Given the Greensill rise, this connection to Solo is quite intriguing.
There are more than one US companies with the name of Two Iron LLC; not quite clear which company it is and what the connection is to Greensill. RB Ferrin I couldn’t relate to anything. Greensill Melons Pty is a company related to his farming family, from whose financial interests he has been distancing himself from lately.
PS There are many ways to look at the Greensill demise – one way, is to see it as yet another chapter in the SoftBank Vision Fund saga…
Follow me on Twitter for running updates.
[…] was one of those insiders Greensill was carefully cultivating. As pointed out earlier on Icelog, Brierwood benefitted from a generous loan from the Australian Greensill company in 2014 of […]
Greensill’s grand idea: close connections, jets and convoluted relationships at Sigrún Davíðsdóttir's Icelog
2 May 21 at 10:01 pm
I just wanted to make a quick comment in order to appreciate you for all of the amazing steps you are giving out on this site. My particularly long internet look up has now been honored with awesome knowledge to go over with my friends. I ‘d state that that most of us site visitors are definitely lucky to exist in a magnificent community with so many marvellous individuals with valuable suggestions. I feel extremely lucky to have encountered your entire website and look forward to some more enjoyable moments reading here. Thanks again for everything.
bape
19 Sep 22 at 12:54 am
I definitely wanted to compose a brief note to say thanks to you for those superb techniques you are placing here. My incredibly long internet look up has now been paid with useful strategies to exchange with my companions. I ‘d admit that we site visitors actually are undeniably endowed to exist in a fabulous network with many wonderful professionals with interesting strategies. I feel pretty fortunate to have encountered the website page and look forward to so many more fabulous moments reading here. Thanks once again for all the details.
kd 12 shoes
21 Sep 22 at 7:45 pm
I as well as my pals appeared to be looking at the nice tips and hints found on your web page and then came up with a horrible suspicion I never thanked the website owner for those tips. Most of the women are actually excited to read through all of them and now have clearly been taking advantage of these things. I appreciate you for simply being indeed kind and for picking out varieties of great subject matter most people are really needing to know about. My very own sincere apologies for not expressing gratitude to you sooner.
nike sb dunk low
21 Sep 22 at 10:09 pm
I would like to express my affection for your generosity supporting folks that need help with this one study. Your special dedication to passing the solution throughout came to be especially beneficial and has really allowed somebody much like me to arrive at their objectives. Your entire useful report can mean a lot a person like me and much more to my office colleagues. Many thanks; from all of us.
stephen curry shoes
22 Sep 22 at 12:33 am
I actually wanted to jot down a quick remark to be able to appreciate you for all of the great pointers you are placing at this website. My time consuming internet research has at the end been honored with reasonable information to share with my visitors. I would tell you that many of us website visitors are unquestionably fortunate to dwell in a fantastic website with so many special individuals with great solutions. I feel pretty happy to have seen your web site and look forward to plenty of more awesome minutes reading here. Thanks a lot again for a lot of things.
kyrie 7
22 Sep 22 at 5:47 am
I enjoy you because of all of your labor on this site. Debby takes pleasure in setting aside time for internet research and it’s really easy to see why. Most people notice all concerning the powerful ways you render simple secrets through this web site and as well as strongly encourage contribution from website visitors on that issue then our daughter is without a doubt studying a whole lot. Have fun with the remaining portion of the new year. You’re the one doing a brilliant job.
kyrie 6 shoes
22 Sep 22 at 11:44 am
Thank you a lot for giving everyone remarkably memorable possiblity to read from here. It is often so excellent and stuffed with a lot of fun for me and my office colleagues to visit your website no less than 3 times weekly to see the fresh issues you have. And definitely, I am at all times amazed considering the great inspiring ideas you give. Certain 3 areas in this posting are absolutely the most efficient we have all had.
off white
22 Sep 22 at 7:15 pm
I simply wished to say thanks once more. I do not know the things that I could possibly have handled without the actual tricks contributed by you relating to such industry. It has been a alarming matter in my position, nevertheless observing the very specialised avenue you solved it forced me to leap with contentment. I’m just grateful for this help and even have high hopes you know what a powerful job you were providing teaching men and women with the aid of your web blog. I am certain you haven’t got to know all of us.
kd 15
23 Sep 22 at 5:31 am
I want to get across my respect for your generosity giving support to persons that actually need help with that area of interest. Your real dedication to getting the solution around appears to be especially useful and have usually enabled others like me to get to their pursuits. Your warm and helpful advice indicates a great deal to me and much more to my colleagues. Best wishes; from all of us.
off-white
23 Sep 22 at 8:30 am
I definitely wanted to jot down a simple note in order to appreciate you for all of the splendid techniques you are sharing on this site. My extensive internet research has now been rewarded with reputable facts and techniques to talk about with my family. I would admit that we website visitors are extremely lucky to exist in a really good website with many brilliant people with beneficial secrets. I feel pretty blessed to have encountered your entire website page and look forward to plenty of more excellent times reading here. Thanks a lot again for a lot of things.
yeezy shoes
23 Sep 22 at 9:19 pm
Thank you a lot for giving everyone remarkably superb possiblity to check tips from this blog. It can be so pleasurable and packed with a good time for me personally and my office mates to search your web site no less than thrice weekly to learn the fresh things you have got. And definitely, we’re certainly motivated with the astonishing opinions you give. Certain 4 areas in this post are undoubtedly the very best I’ve had.
goyard online store
23 Sep 22 at 11:45 pm
Wonderful beat ! I wish to apprentice whilst you amend your web site, how can i subscribe for a blog website? The account helped me a applicable deal. I have been tiny bit familiar of this your broadcast offered bright transparent idea
gralion torile
19 Mar 23 at 4:43 pm
Thank you very much for the useful information
ajarabet.am mutq
23 Apr 23 at 12:28 am
Pablo Snus: Elevate Your Nicotine Experience with Scandinavian Excellence
Attention all nicotine enthusiasts! Are you ready to embark on a journey to discover
a premium and sophisticated way to enjoy nicotine? Introducing Pablo Snus, a brand that encapsulates the essence of Scandinavian excellence and elevates your nicotine experience to new heights!
What is Pablo Snus?
Pablo Snus is a true testament to the Scandinavian art of snus-making, a form of smokeless tobacco that has been enjoyed for centuries in the Nordic
region. The name “Pablo” pays homage to the artistic craftsmanship that goes into creating these exceptional snus products,
combining traditional methods with modern innovation.
The Art of Craftsmanship
Every can of Pablo Snus is a masterpiece in its own right.
Meticulously handcrafted, the process starts
with the finest tobacco leaves carefully selected to
ensure unparalleled quality. The leaves are then ground to perfection,
and a blend of natural flavors and aromas is added to create
a symphony of taste that tantalizes your senses.
A Luxurious Experience
Pablo Snus offers more than just
nicotine enjoyment; it offers a luxurious experience that caters to the discerning connoisseur.
The discreet and elegant design of the cans makes them ideal companions for any occasion. Slip a can into your pocket or purse, and you’ll always have a refined nicotine option at your fingertips.
Explore a World of Flavors
One of the most exciting aspects of Pablo Snus is
the array of flavors available. From classic and robust tobacco blends
to refreshing mint, zesty citrus, and even unique infusions like bergamot and elderflower –
there’s a flavor to suit every palate. Immerse yourself in a world of taste and find your perfect snus companion.
A Safer Choice
For those looking to enjoy nicotine without the risks associated with smoking, Pablo Snus is a safe and smoke-free alternative.
The pouches are designed to release a steady and satisfying nicotine experience without exposing you
to harmful tar or combustion by-products.
Where to Find Pablo Snus
Pablo Snus has quickly gained popularity around
the globe, and it’s no wonder why. Its unparalleled quality, enticing flavors,
and refined presentation have made it a sought-after brand for nicotine enthusiasts worldwide.
Look for Pablo Snus in select tobacco retailers and online stores, and treat
yourself to a truly exceptional snus experience.
Join the Pablo Snus Experience
Discover the world of Pablo Snus and unlock the secrets of Scandinavian nicotine excellence.
Elevate your enjoyment with each pouch and savor the craftsmanship that goes into every can. Embrace
a sophisticated alternative to traditional smoking and embrace the art
of snus with Pablo.
Warning: Nicotine is an addictive substance. The use of snus
is intended for adults only and is not recommended for non-smokers or individuals under legal tobacco age.
Please consume responsibly.
Experience Pablo Snus – Elevate Your Nicotine Experience Today!
pablo snus
20 Aug 23 at 12:23 am
http://www.thebudgetart.com is trusted worldwide canvas wall art prints & handmade canvas paintings online store. Thebudgetart.com offers budget price & high quality artwork, up-to 50 OFF, FREE Shipping USA, AUS, NZ & Worldwide Delivery.
digital art
20 Oct 23 at 9:24 am
great points altogether, you simply gained a new reader. What would you suggest about your post that you just made a few days ago? Any positive?
News
20 Jan 24 at 4:02 pm
I have to convey my affection for your generosity supporting those people who absolutely need guidance on your concern. Your real commitment to getting the solution all around had become surprisingly valuable and have frequently allowed somebody much like me to achieve their targets. This warm and friendly information means this much a person like me and even further to my office colleagues. Best wishes; from each one of us.
supreme
22 Jan 24 at 5:48 pm
Would you be desirous about exchanging links?
situs porno
16 Feb 24 at 7:56 pm
This is a topic that is near to my heart… Take care! Where can I find the contact details for questions?
new88vl com
17 Feb 24 at 3:22 am
There’s certainly a great deal to learn about this subject. I love all the points you have made.
OtherBrick's Pink Floyd Brick Sculptures Shine On
17 Feb 24 at 6:14 pm
I’m in awe of the author’s capability to make complicated concepts accessible to readers of all backgrounds. This article is a testament to her expertise and passion to providing helpful insights. Thank you, author, for creating such an compelling and illuminating piece. It has been an incredible joy to read!
Zemits machine
19 Feb 24 at 10:00 am
Your post has been incredibly helpful. Thank you for the guidance!
27263 Auto Glass Shop
21 Mar 24 at 10:46 pm
Thank you so much for sharing this wonderful post with us.
boss88 alternatif
20 Apr 24 at 10:41 am
Your ability to distill complex concepts into enjoy readingable content is admirable.
28303 Auto Glass Quote
23 Apr 24 at 3:42 am
Some tips i have usually told people today is that when evaluating a good on the net electronics retail outlet, there are a few factors that you have to consider. First and foremost, you want to make sure to look for a reputable along with reliable retail store that has received great reviews and scores from other individuals and business world analysts. This will make sure that you are getting through with a well-known store providing you with good service and assistance to its patrons. Many thanks for sharing your thinking on this blog site.
Processor
20 May 24 at 12:08 pm
I additionally believe that mesothelioma is a scarce form of many forms of cancer that is usually found in individuals previously subjected to asbestos. Cancerous tissue form inside the mesothelium, which is a defensive lining which covers almost all of the body’s bodily organs. These cells usually form inside the lining from the lungs, abdomen, or the sac which actually encircles the heart. Thanks for sharing your ideas.
stretch marks pregnancy
20 May 24 at 8:38 pm
Throughout this grand design of things you’ll receive a B+ just for hard work. Exactly where you misplaced everybody ended up being on all the specifics. You know, people say, details make or break the argument.. And that couldn’t be much more true at this point. Having said that, let me reveal to you just what did deliver the results. Your text is quite persuasive which is most likely the reason why I am taking an effort to opine. I do not make it a regular habit of doing that. Secondly, while I can notice the jumps in reason you come up with, I am not really certain of exactly how you seem to unite the points which inturn make the actual conclusion. For the moment I will subscribe to your issue but hope in the foreseeable future you actually connect your facts better.
taurus zodiac
21 May 24 at 10:20 am
Also a thing to mention is that an online business administration program is designed for scholars to be able to well proceed to bachelors degree programs. The 90 credit diploma meets the other bachelor diploma requirements then when you earn the associate of arts in BA online, you may have access to the most recent technologies in this particular field. Several reasons why students need to get their associate degree in business is because they may be interested in the field and want to get the general schooling necessary ahead of jumping to a bachelor diploma program. Thx for the tips you provide as part of your blog.
9mm pit viper price
23 May 24 at 9:58 pm
Deployed in the Warsaw Uprising of 1944 and at the beaches of Anzio and Normandy, these devices were ingenious but not especially effective.
VTIはどのようなファンド名ですか
21 Aug 24 at 2:55 pm
Look for space rather than size – One of the things which needs to be taken into consideration.
ガードル 下腹 おすすめ
23 Aug 24 at 5:58 am
The name of the car simply refers to the engine鈥檚 horsepower (15), which was a lot for the period but quite weak by today鈥檚 standards.
電動インパクトドライバー
20 Sep 24 at 4:46 am
You have a gift for explaining things in an understandable way, much like a smooth talker who knows just what to say.
Lanora Kletschka
22 Oct 24 at 12:15 am
Introducing to you the most prestigious online entertainment address today. Visit now to experience now!
8x bet
23 Oct 24 at 1:15 pm