Sanjeev Gupta files legal claim to retain control of Australian steel firm InfraBuild amid asset disputes

Sanjeev Gupta, owner of Liberty Steel and metals tycoon, has launched a legal claim in the UK High Court to defend his ownership stake in InfraBuild, a $3 billion Australian steel producer. This latest legal move challenges a claim made by the administrators of Greensill, the collapsed finance group... [More info]

“Executives from billionaire Sanjeev Gupta’s Australian steelworks and mining operations in Whyalla are in advanced talks with Japanese steelmakers and traders looking to invest in a major expansion of the business.”

They’d have to have rocks in their heads. This is a guy who spends nothing, gets governments to invest, builds nothing, and defaults on loans.

He reckons his company GFG has refinanced and has $500 million to invest (probably via some other government suckers, ask the Belgians ).

He’s currently sweet talking the Feds and trying to convince the South Australian government to give him $50 million. Pshaw. His current creditors can’t get any of the $5 billion he owes.

He’s being investigated for fraud and money laundering. I hope Ed Husic and Makinauskas and Tom Koutsantonis are just humouring him or are trying to get revenge for Greensill investors and not taking this loser seriously.

#SanjeevGupta #WhyallaSteel #SAPol #Greensill #GFG #EdHusic #Auspol #GreenSteel

https://www.afr.com/world/asia/gupta-execs-in-talks-with-japanese-investors-on-whyalla-expansion-20231017-p5ed1x