LONDON – The UK government on Monday announced an independent review of contracts it handed over to the now-defunct Greensill Capital and the role former Prime Minister David Cameron played in lobbying on behalf of the company for access to taxpayer funds a few months before its collapse.
The government said a review led by lawyer Nigel Boardman would look at the government’s use of supply chain funding and Greensill said a Downing Street spokesman. The review will examine whether the company provided good value to taxpayers and how their contracts were secured.
Greensill’s implosion has spread the damage around the world of finance and has hit its financing partner Credit Suisse Group AG and its largest external investor, a fund managed by SoftBank Group Corp.
Greensill’s close connections to the world of politics have also raised concerns about his relationships with government actors in the UK and elsewhere.
A Greensill representative, who filed for bankruptcy last month after losing credit insurance that was crucial to his business, declined to comment. Greensill had a contract to provide supply chain funding, used by companies to extend the time they have to pay their bills, to the government-funded National Health Service.