Sanjeev Gupta Wins Partial Reprieve in Legal Battle Against Winding-Up Petitions Against British Operations

Steel tycoon Sanjeev Gupta has won a partial reprieve in his legal battle against winding-up petitions against his British operations, Liberty Steel.

Two winding-up petitions against Liberty's Speciality Steel arm and a division formally known as Liberty MDR Treasury Company were dropped last week.

The case was adjourned several times following requests from Gupta's lawyers.

The collapse of Greensill Capital and associated entities in 2021 has been one of the most notorious corporate failures in recent UK history, and its repercussions continue to resonate, including for the former prime minister David Cameron, who advised the company.

Gupta's multinational group, GFG Alliance, which houses Liberty Steel, faces several legal claims from creditors, and he also faces the outcome of a Serious Fraud Office probe into his operations.