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Greensill Capital - publication of British Business Bank correspondence

22 July 2021

As part of its inquiry into Liberty Steel & the future of steel industry in UK, the Business, Energy and Industrial Strategy Committee has published correspondence from the British Business Bank (BBB).

The letter from Patrick Magee, Chief Commercial Officer, at the British Business Bank relates to email exchanges between the Department for BEIS and the British Business Bank concerning Greensill Capital’s application for accreditation under the Coronavirus Large Business Interruption Loan Scheme (CLBILS).

The correspondence follows an evidence session on Tuesday 29th June when the BEIS Committee questioned Patrick Magee, Chief Commercial Officer, British Business Bank, Stephen Rose, Chief Executive Officer, Wyelands Bank, Milan Patel, Partner, King & King, focussing on the financial relationships between GFG Alliance entities, and the financial practices which contributed to Liberty Steel’s current difficulties.

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