Source · Select Committees · Business, Innovation, Science and Trade Committee
Recommendation 16
16
GFG Alliance’s reported engagement in circular trading, or REPO structures, exacerbated a concentration risk to...
Conclusion
GFG Alliance’s reported engagement in circular trading, or REPO structures, exacerbated a concentration risk to Greensill Capital by raising large amounts of working capital against invoices created to raise finance instead of selling steel to genuine customers. (Paragraph 86) 64 Liberty Steel and the Future of the UK Steel Industry
Government Response
A response document is linked to this report, dated 20 January 2022. Response attribution to this conclusion has not been verified. Read the response document ↗