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Sanjeev Gupta + Liberty House


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spygirl

Gupta’s eastern Europe steel plants scramble to pay €100m carbon bill

CO2 credit shortfall is latest sign of financial strains facing businessman’s GFG Alliance empire

https://www.ft.com/content/df33022a-285d-4cdb-8b26-cca2e7fc3fd4

The industrialist’s Romanian plant, Liberty Galati, sold an estimated €100m in carbon credits last year after being awarded them under the EU’s Emissions Trading Scheme, ETS.

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Let me clarify - Shareholders equity should go. ank debt should be restructured. Employment terms should be reduced. Directors loans and assets should be pursued relentlessly.

FT have started blocking comments on Gupta articles, which points to something criminal underway.  

Labour don't understand the basics of liquidation Labour: Save Liberty Steel before it goes bust - BBC News The entire point is you want to be organised enough that the firm goes bankrupt an

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eek
2 hours ago, spygirl said:

Gupta’s eastern Europe steel plants scramble to pay €100m carbon bill

CO2 credit shortfall is latest sign of financial strains facing businessman’s GFG Alliance empire

https://www.ft.com/content/df33022a-285d-4cdb-8b26-cca2e7fc3fd4

The industrialist’s Romanian plant, Liberty Galati, sold an estimated €100m in carbon credits last year after being awarded them under the EU’s Emissions Trading Scheme, ETS.

How short of cash do you need to be to sell something you need x months later when the bill needs to be paid?

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wherebee
5 hours ago, eek said:

How short of cash do you need to be to sell something you need x months later when the bill needs to be paid?

spinning plates.  It's all good until it is not.

 

Don't forget, in the close Indian family structures, if he can siphon off say 20MM to family members in a way which is hard to catch at the time, it will be nigh impossible to get the money back after the collapse.  10MM in India means your family can live like kings for 30 years.

Whilst I do not condone it, I understand it.  Indian bloke sees stupid westerners willing to give money away which will set his blood relatives up for generations.  Be very few people would not be tempted.

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spygirl
10 hours ago, eek said:

How short of cash do you need to be to sell something you need x months later when the bill needs to be paid?

Or how crooked???

 

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spygirl

Cant get beyond paywall.

Headline gives enough

Sanjeev Gupta warns creditors are risking jobs

Appeal for ‘cool heads’ to save UK steel business

https://www.thetimes.co.uk/article/sanjeev-gupta-warns-creditors-are-risking-jobs-fvk2hlrg7

Sanjeev Gupta has warned his creditors that their “dangerous and cavalier behaviour” threatens tens of thousands of British jobs.

In an emotional appeal to save his troubled steel giant from insolvency, the industrialist has called for “cool heads and collaboration” with banks seeking to wind up Liberty Commodities, one of the central pillars of his metals empire.

Those cunt creditors ....

According to the BBC, which looks about right, lIberty directly employ 3,000.

Lying indian cunt.

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eek

I picked up this line from the article

Quote

Although Gupta said he took “full responsibility” for guiding his firm to a more sustainable footing, his intervention will also increase pressure on ministers to step in to protect GFG’s British businesses from any attempt by banks to force its liquidation.

Sorry but I believe the actual plan is to let the banks swallow the loss and pick the company up as it is liquidated.

 

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spygirl

Suspect Sanjeev Gupta invoices used in Greensill loans raise fraud concerns

Six companies named in invoices and Credit Suisse fund documents deny doing business with steel magnate

https://www.ft.com/content/e450c8f9-29fa-432b-98fd-5885edb4680f


The Financial Times has seen a series of invoices that Gupta’s Liberty Commodities trading group provided to Greensill in exchange for cash, including documents purporting to show it sold products to four European metals businesses: KME Germany, RPS Siegen, Voestalpine Böhler Edelstahl and Salzgitter Flachstahl. All of these companies deny doing business with Gupta’s group.

“We have nothing to do with Liberty,” said Ulrich Becker, chief executive of KME Germany. “We did not trade with them in the past, we are not trading with them now, and we will not trade with them. We are copper producers and don’t even know what we would have bought from them.”

 

And truly jaw dropping



One of the companies, a German scrap metal business called RPS Siegen, told the FT it had never traded with Gupta. The steel magnate later told the FT that the company had been “identified as a potential customer” and financing was provided on that basis.

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spygirl

When are the media going to admit it, and start looking at large scale fraud involving brown people???

Id bet goo money that when you look at all the foreign  'Drs' in the NH, few will have anything approaching the skills and whatnot.

 

 

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spygirl

FT have started blocking comments on Gupta articles, which points to something criminal underway.

 

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spygirl

Cameron admits mistakes as he breaks silence on Greensill

Former PM seeks to distance himself from troubled finance group he lobbied

https://www.ft.com/content/da2a2686-1efa-4fd4-bee4-79cc9d9a89a2

Sounning n wiggling.

However this bit is correct



“Lex Greensill was brought in to work with the government by the former cabinet secretary, Jeremy Heywood, in 2011,” Cameron said. “He was not a political appointee, but part of the civil service drive to improve government efficiency.”

 

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spygirl

Gupta carved up business empire in attempt to secure UK Covid loans

Steel magnate incorporated new companies in an effort to tap government’s emergency lending scheme

https://www.ft.com/content/b2c846db-2537-47e3-a75d-5118c69ba54a



Metals magnate Sanjeev Gupta restructured his business empire last year in an attempt to maximise the amount of UK taxpayer-backed loans he could draw on through the government’s coronavirus lending scheme.

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spygirl

https://www.bbc.co.uk/news/business-56759148

But Mr Gupta said he and GFG Alliance, Liberty Steel's parent company, were "not waiting for anybody" and were "doing what we can to help our businesses".

"Our overall global operations are profitable, we have refinancing offers, we will refinance, and we will support our UK business also," Mr Gupta told the BBC.

"None of my steel plants under my watch will be shut down," he said.

 

Lying cunt.

Where is Mr Gupta being interview? In the UK.

Or on the phone from Dubai

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spygirl

https://www.thetimes.co.uk/article/revealed-sanjeev-guptas-circular-money-trail-5xzwnjppt

Paywall but gist

Sanjeev Gupta’s Liberty Steel raised cash from finance firm Greensill Capital by selling steel that it then planned to buy back itself, stoking concerns about how his stricken empire was funded.

Documents seen by The Sunday Times show that Liberty Steel Newport in south Wales used a circular trading scheme whereby it sold steel to a company with close links to the tycoon, which another Gupta business was then to buy back.

Bent Indian cunt.

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stop_the_craziness

I don't pretend to understand half of the details of this thing, but sometimes you don't need to understand the little pieces to understand the big picture.

Over and over and over again this stuff happens.  And always will.  It makes me feel very weary.

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spygirl
51 minutes ago, eek said:

Labour don't understand the basics of liquidation

Labour: Save Liberty Steel before it goes bust - BBC News

The entire point is you want to be organised enough that the firm goes bankrupt and you pick it up 10 minutes later having removed a pile of debt and (in this case) the previous management

How fucking gormless are Labour - and I dont think is Pollicall. its Labour being  fucking idiots.

Liberty Steel is a con. The mess of debt + liabilities in Liberty Steel; LtdCo is barge pole.

Let it fail.

Tell any buyer they have to run it thru the government first

 

 

 

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spygirl

Lucy Maria Powell (born 10 October 1974)[1] is a British Labour and Co-operative politician who has served as the Member of Parliament (MP) for Manchester Central since winning the seat at a by-election in November 2012. Since April 2020 she has also served as Shadow Minister for Business and Consumers.

Prior to her election, she worked in campaigning and PR roles for Britain in Europe, NESTA and the Labour Party.

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wherebee
On 19/04/2021 at 03:51, spygirl said:

Dodgy Indian

https://www.thisismoney.co.uk/money/news/article-9482575/amp/Sanjeev-Gupta-paid-100-000-month-flat-Belgravia-left-empty.html

Empty flat my arse.

Prob filled with Indians scamming NHS.

Or busty mistress.

Bet he wont step foot in the UK ever again.

COVID gives a lot of opportunities for fraudsters to 'die' and build a new life.

Just saying.

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spygirl

https://www.bloomberg.com/news/articles/2021-04-22/gupta-s-father-has-moved-from-u-k-as-group-battles-for-survival

Parduman Gupta, father of embattled metals tycoon Sanjeev Gupta, has moved out of the U.K., just as the pair’s GFG Alliance teeters on the brink following the collapse of its largest lender Greensill Capital.

The senior Gupta has changed his country of usual residence from Britain to India, according to several filings made over the past few weeks at Companies House, the business registry. He owns Simec Group, the branch of the business empire which deals in renewable energy, shipping and mining, and was founded by the magnate as an export-and-import house in India.

Strange that.

The kingfisher beer CEO came to the UK from India

https://www.bbc.co.uk/news/business-47121447

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Chewing Grass

Quick, lets fuck-off before we are arrested.

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