GFG Alliance

GFG Promises Legal Action Against AIP To Regain Dunkirk Aluminium Smelter

GFG Promises Legal Action Against AIP To Regain Dunkirk Aluminium Smelter

GFG Group pledged on Tuesday to fight back against an ownership transfer of Dunkirk aluminium smelter to American Industrial Partners (AIP) that occurred last week due to GFG Group’s default on a loan to AIP. GFG said in a statement that it...

Events

Business As Usual At Lochaber Aluminium Smelter As Fraud Probe Of GFG Commences

Aluminium smelting operations continue as usual at GFG Alliance’s Lochaber smelter despite an investigation into its parent company for serious financial crimes. On Friday the Scottish government’s Serious Fraud Office said it had begun an investigation into the firm for “suspected fraud, fraudulent trading and money laundering” related to the financing of GFG’s various companies. […]

GFG Alliance Seeking Payment Pause For Debt Payments To Troubled Backer Greensill

In response to concerns raised by an insolvency filing by one of its financial backers, GFG Alliance leader Sanjay Gupta said his firm is in discussions with its administrators regarding an agreement to pause payments to the troubled firm. On Friday, Gupta relayed internally that it was seeking a standstill agreement from Greensill Capital’s administrators, […]

Liberty Steel Labor Reps Seek Assurance From GFG Alliance After Insolvency Of Major Financial Backer

Representatives from British trade unions seek to meet with officials at Liberty Steel after one of GFG Alliance’s major backers signaled financial trouble by entering into administration. On Monday, Greensill Capital filed insolvency paperwork with local courts. The financial firm lost insurance and investor funding for its own supply chain business last week. Gupta Family […]