IAG agrees settlement as part of Greensill case
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IAG agrees settlement as part of Greensill case
Australian insurer IAG has announced that its subsidiary, Insurance Australia Limited (IAL), has agreed to a confidential settlement of the proceedings brought by Greensill Bank AG and its Insolvency Administrator, Dr Michael C. Frege. The case, known as Greensill Bank Proceedings, was Filed in the Federal Court of Australia following the collapse of Greensill Capital. Greensill, which specialises in supply-chain finance, filed for administratio…
Following the collapse of the Bremen Greensill Bank in March 2021, a legal tug-of-war followed on a global scale – in one of the numerous cases that still deal with the courts today, there has been a comparison. Australian insurer Insurance Australia Group (IAG) managed to settle a central issue in the billion-dollar Greensill complex. However, this is far from over for IAG. The contribution Australian IAG gained some air in the Greensill legal …
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