Insurance executive alleges Greensill deceived him into providing cover
An underwriter who signed off on billions of dollars of insurance policies for Greensill Capital ahead of its collapse has alleged that the finance company “induced” him into providing cover through “misleading and deceptive conduct”.
Greg Brereton, who worked for Sydney insurer Bond & Credit Co, set out his defence in a court filing in response to a case brought by US investment firm White Oak, which bought some of the debts owed to Greensill Capital by steel group GFG Alliance, against Australian insurer Insurance Australia Group.
It is the first time that Brereton has issued any statement on the collapse last year of SoftBank-backed Greensill Capital following the cancellation of its insurance cover.
This story originally appeared on: Financial Times - Author:Robert Smith
