The government is seeking to disqualify Lex Greensill from running or controlling companies for 15 years.
The UK Insolvency Service has commenced director disqualification proceedings against the founder of Greensill Capital and Greensill Capital Management, both of which entered administration in March 2021.
Further companies within the Greensill group subsequently entered into Creditors鈥� Voluntary Liquidation.
Greensill Capital, backed by Credit Suisse, specialised in supply chain finance. Following its collapse it emerged that former Prime Minister Lord Cameron, now Foreign Secretary, had sent dozens of messages during the COVID-19 pandemic requesting that Greensill be granted access to the government鈥檚 coronavirus loan support scheme.
Cameron had joined Greensill as an adviser after leaving Downing Street and owned stock options in the then-struggling company. The Treasury select committee found in July 2021 that the politician had shown a 鈥渟ignificant lack of judgement鈥�.
鈥淲e can confirm that the Insolvency Service has commenced director disqualification proceedings against Alexander (Lex) Greensill to have him disqualified from running or controlling companies for a period of up to 15 years in respect of his conduct as a director of Greensill Capital (UK) Limited and Greensill Limited,鈥� said a spokesperson for the Insolvency Service.
鈥淎s this matter is now a live case before the court it is not appropriate to comment further.鈥�
A spokesperson for Lex Greensill, an Australian former sugar farmer, responded: 鈥淟ex Greensill recently issued proceedings against the Department for 老九品茶 and Trade in the high court as a result of the Insolvency Service鈥檚 conduct during the investigation that led to this action.
鈥淢r Greensill rejects this action as wholly without merit and will robustly address it.鈥�