Citibank has been given the go-ahead for its winding-up petitions in relation to Sanjeev Gupta’s GFG Alliance businesses: Speciality Steel, Liberty Commodities, and a Liberty MDR Treasury Company, according to FT. The bank, acting on behalf of creditors including Credit Suisse, is seeking to shut down the companies over unpaid debts.
“The demands made on the companies over a year ago have not been met,” Judge Nicholas Briggs said in his ruling. “It is likely that a winding-up order will be made.”
