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The Latest Breaking News on GFG

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

The Guardian - UK

Liberty Steel Dalzell parts ways with auditor

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

Insider UK

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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

The Guardian - UK

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.

Daily Record

Credit Suisse heads to court with Sanjeev Gupta after debt talks stall

Negotiations between Credit Suisse and GFG for a broader restructuring of its UK and US debts have since broken down

Livemint

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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

The Guardian - UK

FRC launches inquiries into audits of four Liberty Steel companies

Watchdog to investigate King & King’s statutory audits of companies, owned by metals tycoon Sanjeev Gupta

The Guardian - UK

UK regulators launch investigation into Sanjeev Gupta's accountant

Accountancy watchdog will probe the accounts of the company behind Liberty's Lochaber factory

Insider UK

Investigation launched into Gupta accountants

King and King will be investigated for its role as auditors in signing off accounts for four Liberty Steel businesses over the past three years.

The Independent UK

Serious Fraud Office visits Whyalla steelworkers owner GFG Alliance offices in UK in fraud, money laundering investigation

Properties linked to British billionaire Sanjeev Gupta's GFG Alliance have been searched by officers from the UK's Serious Fraud Office.

ABC News

Serious Fraud Office requests documents at Gupta-linked firms

UK offices of companies owned by industrialist targeted as part of money laundering inquiry

The Guardian - UK

French police raid GFG Alliance-linked businesses in money laundering probe

Sanjeev Gupta's group was backed with £568m from the Scottish Government when buying a smelting plant in the Highlands

Insider UK

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The Guardian - UK

Liberty Steel to cut 200 jobs but create up to 160 more in plant move

Jobs set to go at Stocksbridge in South Yorkshire and at West Bromwich, but new posts to be created at Rotherham

InnovationAus

Gupta begins Whyalla expansion readying for green steel

Steel and aluminium magnate Sanjeev Gupta has made an impassioned call for Australia to use its natural resources to produce green hydrogen for export but also to embrace green steel manufacture and export. Speaking at an AmCham meeting in Adelaide today Gupta, chairman of GFG Alliance, announced investment to boost…

Birmingham Post

Global steel executive joins GFG Alliance to bolster restructuring, transformation and Net Zero plans

Sandip Biswas is a former chair of Tata Steel UK

Insider UK

Scottish ministers reject Highland wind farm proposal

Developer Simec Wind One is run GFG Alliance boss Sanjeev Gupta's father

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The Guardian - UK

Steel tycoon Sanjeev Gupta’s GFG alleged to have ‘misappropriated’ funds in Romania

High court documents show French government believes GFG Alliance may have broken law

The Guardian - UK

HMRC withdraws winding-up petitions against four Liberty Steel firms

Threat to 3,000 jobs appears to have receded but GFG consulting on possible closure of Coventry factory

Insider UK

Government 'in no financial danger' over GFG smelter deal

Public Audit Committee told that the financial exposure went from £37m in 2020 to £161m in 2021

The Guardian - UK

GFG Alliance launches high court action to reclaim aluminium smelter

US private equity fund that runs smelter says it could not accept payments from GFG because of allegation it broke Romanian law

Insider UK

GFG faces fines for late filing of accounts - already 11 months overdue

Former Scottish Liberal Democrat leader says delays could be a 'warning sign' that jobs are at risk at the group's Lochaber smelter

The Guardian - UK

Thousands of Liberty Steel jobs at risk in England as HMRC files winding-up order

Unions condemn move as ‘devastating blow’ saying plants must remain open

The Guardian - UK

Sanjeev Gupta thanked minister for key role in securing loans for Greensill

Metals tycoon wrote to Nadhim Zahawi after firm, which collapsed in 2021, gained access to Covid scheme

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