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Cypriot company alleges Greensill facility 'procured by bribery'
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Cypriot company alleges Greensill facility 'procured by bribery'
A company developing a housing project in Somalia claims Greensill Capital UK bribed its financial intermediary in order to secure a supply chain finance facility that is now subject to legal action by UBS. Cyprus-based Chelsea Group made the allegation in its defence against a UK court claim by UBS Asset Management Switzerland over a US$20.7mn debt that accrued after it stopped making repayments on the facility. The case, filed on June 13, is U…
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