Greensill German Administrator Wins Asset Freeze In Australia

Law360, London (April 8, 2021, 3:24 PM BST) -- The insolvency administrator of Greensill Capital's German bank subsidiary has won proceedings in Australia to freeze assets at the country's branch of the supply-chain finance firm, in a bid to recover money for creditors.

Judge Paul Anastassiou said in a Federal Court of Australia order published on Wednesday that any execution of Greensill Bank AG's Australian assets will be temporarily stayed.

Michael Frege of law firm CMS Hasche Sigle, the German court-appointed administrator of collapsed Greensill Bank, filed an application in Australia for interim relief to freeze the bank's local assets given the insolvency proceedings in Germany.

Frege is looking for...

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