It’s all already sold

However, it is understood that officials are unsure whether a state rescue of Liberty’s UK steel operations is even possible as Greensill, which provided billions of financing for GFG, may have first call on its assets.

That is going to pose more than a little problem…..

Bankruptcy of the steel assets seems, to my mind, likely. But if they’ve been used as security then The Bloke from Oz owns them at least as an intermediate position……

2 thoughts on “It’s all already sold”

  1. What difference does it make? If the State is going to nationalise something can they only do so if certain people own the assets, but not others? All assets have to be owned by someone at any given point, the State can nationalise them and pay compo to whoever happened to be holding the bag at that point.

  2. Electric arc furnaces must surely be doomed by HMG’s policy of making electricity more expensive.

    Boris must go!

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