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Aspiring Lawyers - Interviews & Vacation Schemes
Commercial Awareness Discussion
How Greensill Was My Valley: Alternative Supply Chain Provider Forced into Administration
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<blockquote data-quote="Matt_96" data-source="post: 75158" data-attributes="member: 1260"><p>I think this story is fascinating, and it's one I'm watching closely, although not necessarily just for interview practice. It has every single element of a classic financial scandal - I wonder if in 10 years there might even be a film made about it. You have the larger-than-life salesman in an otherwise dull field, the extremely complex world-spanning financial arrangements that few seem to understand, a naive high-profile politician and accompanying government scandal, billions of pounds on the line, a house of cards that has quickly come crashing down and to top it off, everything seems to have been facilitated by a low-profile middle-aged dude in a sleepy Australian suburb that nobody thought was much of a risk taker. </p><p></p><p>The FT have been really on the money with this the whole way, so any of their articles on it are well worth a read! There is a collection <a href="https://www.ft.com/content/a6d578c4-9a57-4375-b7b2-c88d4b7cc21f" target="_blank">here</a> (although you may need a subscription to access them). I also think the respective involvement of different city firms is also an element worth exploring further. It's not just Bakers and A&O, but a large number of firms with prominent securitisation/asset-backed and commodity finance teams (which would include supply-chain finance expertise) such as Simmons & Simmons have also been involved. And this involvement is likely to continue as creditors seek to get their money back through legal action, the insurers and brokers will also want advice on the risks and mitigation, and there will probably be a large-scale multi jurisdictional regulatory investigation as well. Plenty to keep a firm busy!</p></blockquote><p></p>
[QUOTE="Matt_96, post: 75158, member: 1260"] I think this story is fascinating, and it's one I'm watching closely, although not necessarily just for interview practice. It has every single element of a classic financial scandal - I wonder if in 10 years there might even be a film made about it. You have the larger-than-life salesman in an otherwise dull field, the extremely complex world-spanning financial arrangements that few seem to understand, a naive high-profile politician and accompanying government scandal, billions of pounds on the line, a house of cards that has quickly come crashing down and to top it off, everything seems to have been facilitated by a low-profile middle-aged dude in a sleepy Australian suburb that nobody thought was much of a risk taker. The FT have been really on the money with this the whole way, so any of their articles on it are well worth a read! There is a collection [URL='https://www.ft.com/content/a6d578c4-9a57-4375-b7b2-c88d4b7cc21f']here[/URL] (although you may need a subscription to access them). I also think the respective involvement of different city firms is also an element worth exploring further. It's not just Bakers and A&O, but a large number of firms with prominent securitisation/asset-backed and commodity finance teams (which would include supply-chain finance expertise) such as Simmons & Simmons have also been involved. And this involvement is likely to continue as creditors seek to get their money back through legal action, the insurers and brokers will also want advice on the risks and mitigation, and there will probably be a large-scale multi jurisdictional regulatory investigation as well. Plenty to keep a firm busy! [/QUOTE]
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How Greensill Was My Valley: Alternative Supply Chain Provider Forced into Administration
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