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The Latest Breaking News from GFG

‘Hopelessly insolvent’: how ‘saviour of steel’ Sanjeev Gupta’s global empire unravelled

This week’s collapse of the tycoon’s Yorkshire operations brought relief for some. It echoes insolvency steps at 15 of his companies

The Guardian - UK

Sanjeev Gupta readies last-ditch plan to save UK speciality arm of Liberty Steel

Attempt to secure pre-pack administration deal comes as government officials step up planning for its collapse

The Guardian - UK

HMRC files winding-up petition against Sanjeev Gupta’s Liberty Steel pipes business

Hartlepool company says it has settled all payments but court filing is sign of pressure on tycoon’s empire

The Guardian - UK

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Global consortium led by Australia’s BlueScope weighs takeover of embattled Whyalla steelworks

South Australian premier says more than 15 national and international parties have passed final EOI phase

The Guardian - AU

UK government considers rescue package for second major steel plant this year

Exclusive: Speciality Steel UK, which employs 1,450 people in South Yorkshire, could be supported if it enters administration

The Guardian - UK

'Strong interest' as steelworks sales process opens

There is "strong early interest" in the Whyalla Steelworks as the sale process begins and millions of dollars flow into the region from a $2.4 billion package.

AAP

We're In Love With This Maserati Boomerang-Inspired One-Off

Meet the Peralta S. It's a new one-off supercar designed by GFG Style, the Italian design firm founded in 2015 by legendary designer Giorgetto Giugiaro and his son, Fabrizio. Likely based on the Maserati MC20 and inspired by the 1972 Boomerang concept, the Peralta S uses a front-hinged canopy for access to…

Motor1

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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

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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AAP

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.

The Guardian - AU

‘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

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The Guardian - UK

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

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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