UPDATE 1-Bremen court says Germany’s BaFin filed for insolvency for Greensill Bank | Reuters

A Bremen court received on Monday evening a filing for insolvency from German financial watchdog BaFin for Greensill Bank, a spokeswoman for the court told Reuters on Tuesday.

Greensill Bank was locked down by BaFin earlier this month with a warning of an imminent risk that its debt would become unmanageable and a statement calling some of its financial accounts into question. Greensill Capital said that the bank always sought external legal and audit advice before booking any new asset.

Neither BaFin nor Greensill Capital, the owner of the bank, could be immediately reached for comment. (Reporting by Patricia Uhlig and Tom Sims; Editing by Riham Alkousaa and Maria Sheahan)

Comments are closed.