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The metals tycoon Sanjeev Gupta has opened a caller beforehand successful the conflict to prevention his crumbling concern empire with a ineligible assertion asserting his ownership of a $3bn Australian alloy producer.
Sky News understands that Mr Gupta's GFG Alliance holding institution has filed a assertion successful the High Court disputing a assertion implicit its shares successful InfraBuild which has been made by the administrators to Greensill, the collapsed concern group.
Mr Gupta's claim, which was filed successful the 2nd fractional of September, escalates his conflict to clasp ownership of his equity successful InfraBuild, which is worthy billions of pounds.
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It comes weeks aft the tycoon mislaid power of Speciality Steels UK, portion of his Liberty Steel subsidiary.
SSUK, Britain's third-biggest alloy producer, collapsed into compulsory liquidation, with a merchantability process present being orchestrated by the government.
Some of Mr Gupta's different assets, including successful Europe, are besides the taxable of ongoing ineligible disputes.
A GFG Alliance spokesperson said: "GFG Alliance has initiated ineligible proceedings successful narration to Greensill's disputed information assertion implicit the shares of its Australian alloy business, InfraBuild.
"The disputed security, dating backmost to 2021, has nary ineligible foundation.
"It was conditional connected Greensill securing security and advancing important caller backing - neither of which ever materialised.
"As a result, the information remains unperfected and without consideration."
He added that GFG was present seeking a "declaration from the UK tribunal to corroborate that the information is invalid".
"While proceedings are ongoing, GFG seeks to negociate a broad colony successful the interests of each stakeholders."
UBS Asset Management, 1 of Greensill's largest creditors, is besides named arsenic a suspect connected the assertion form.
Grant Thornton, the accountancy steadfast which is handling Greensill's long-running insolvency process, is said to person filed a abstracted enactment successful Australia to asseverate its information implicit the InfraBuild stake.
A spokesperson for the associated administrators of Greensill Capital UK Ltd said: "The associated administrators of Greensill Capital UK Ltd firmly judge the enactment lacks merit and volition beryllium responding appropriately wherever necessary."
In August, Sky News revealed that officials from the Australian Securities & Investment Commission (ASIC) had served Mr Gupta's Liberty Steel radical with a caller request for accusation astir its activities.
Sources said the regulator had taken possession of a mobile telephone belonging to Mr Gupta arsenic portion of its probe.
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