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Question for Treasury

UIN HL15166, tabled on 21 April 2021

To ask Her Majesty's Government whether, as a creditor of Greensill Capital and Greensill Bank, they will ask the administrators of those companies and related parties (1) to examine the personal expense claims made by (a) directors, (b) executives, and (c) advisors, for non-business related payments, including use of private jets, and (2) to ensure that the companies reported such non-cash benefits to the relevant income tax bodies, including HMRC.

Answered on

29 April 2021

The Government provides a guarantee, rather than direct funding, to lenders who are participating in the Bounce Back Loan, CBIL or CLBIL Schemes. Lenders participating in the Schemes must source their own funding, as they do for standard business lending.

Greensill Bank is a German bank, and so is regulated by the German supervisory authority, BaFin.

The administrator of Greensill Capital must send the Secretary of State for Business, Energy and Industrial Strategy, a report on the conduct of all directors who were in office in the last 3 years of the company’s trading.

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