Greensill-linked firm ‘failed to act in good faith’ by lending £250m more than agreed, court hears

Greensill Capital UK accused of breaking agreement with government over loans issued to businesses during pandemic

A company linked to financier Lex Greensill “failed to act in good faith” by lending £250m more than it should have to businesses owned by steel magnate Sanjeev Gupta during the pandemic, the high court has been told.

Greensill Bank AG (GBAG) is suing the Department for Business and Trade (DBT) for about £331m over claims it wrongly terminated guarantees it agreed with Greensill Capital UK (GCUK) on Covid loans given to businesses.