Home / News / Europe / Tata Steel sues its rival Liberty Steel to pay debts

Tata Steel sues its rival Liberty Steel to pay debts

Europe / Business and Finance
945
0

Sanjeev Gupta's company never paid the Tata Group £ 100 million for its special steel mills.

Tata Steel sues its rival Liberty Steel to pay debts

Like reports to the Daily Telegraph, the claim relates to missed payments from Liberty's flagship takeover of Tata's £ 100m special steel business in 2017. </p >

The 2017 acquisition made GFG Alliance owner Sanjeev Gupta one of the UK's largest steel tycoons.

Tata Steel has filed a lawsuit against Liberty Specialty Steels, Liberty House Group PTE and Specialty Steel UK, Telegraph reports.

"The case is pending and therefore we are not making any further comments," the Tata Group's press office said.

The owner of Liberty Steel, GFG Alliance has been featured in financial predicament following the collapse and bankruptcy of its financial sponsor Greensill in early March.

Earlier this month, GFG Alliance main owner Sanjeev Gupta announced that none of Liberty Steel's factories would close “under my supervision.”

After that, some investors also filed lawsuits to liquidate part of his metallurgical group.

The first victims of the GFG financial crisis Alliance has become three small French factories employing 850 people.

МЕТАЛЛУРГПРОМ
Partner news
Сomments
Add a comment
Сomments (0)
To comment
Войти с ВК Войти с ФБ Войти с Яндекс
Sign in with:
Войти с ВК Войти с ФБ Войти с Яндекс