Government files director disqualification claim against Lex Greensill
The Insolvency Service has filed a director disqualification claim against the founder of Greensill Capital, Lex Greensill.
The claim was filed today by the Secretary of State for Business and Trade on behalf of the regulator, according to the High Court claim’s system.
The government has appointed law firm Howes Percival, while Alexander David Greensill, known as Lex Greensill, has appointed specialist law firm Ellerman to represent him.
It was revealed back in 2022 that the Insolvency Service was investigating Greensill’s executives, including Lex. If found guilty of misconduct, they could be disqualified from serving as a director of any UK companies for up to 15 years.
This news comes after Lex Greensill filed a lawsuit against the Department for Business and Trade over the alleged “misuse of private information”.
Greensill Capital was a financial services company focused on the provision of supply chain financing and related financial services in the UK and Australia. The company went into a headline-grabbing administration back in March 2021.
Former Prime Minister David Cameron was a senior adviser for Greensill, and became embroiled in the scandal surrounding the firm after it was revealed he had lobbied senior ministers on behalf of the company.
Back in July 2021, a probe into the lobbying efforts of Greensill Capital found Lex Greensill was given “extraordinarily privileged” access to the highest ranks of government.
The Insolvency Service issued disqualification proceedings on behalf of the Secretary of State for Business and Trade in accordance its power under the Company Directors Disqualification Act 1986.
The government said its application to the court has been made in the public interest.
A spokesperson for the Insolvency Service said: “We can confirm that the Insolvency Service has commenced director disqualification proceedings against Alexander (Lex) Greensill to have him disqualified from running or controlling companies for a period of up to 15 years in respect of his conduct as a director of Greensill Capital (UK) Limited and Greensill Limited.”
The government department added that as this matter is now a live case before the court it is not appropriate to comment further.
A spokesman for Lex Greensill said: “Lex Greensill recently issued proceedings against the Department of Business and Trade in the High Court as a result of the Insolvency Service’s conduct during the investigation that led to this action. Mr Greensill rejects this action as wholly without merit and will robustly address it.”