London | Industrialist in difficulty Sanjeev Gupta, owner of the Whyalla steelworkswill turn to the British courts to once again obtain the support of its creditors for a plan to avoid the insolvency of some of its British steelworks.

In a brief statement, Mr. Gupta’s Liberty Steel gave no indication of the latest restructuring plan. But the company said the deal would help ease the burden of debt accumulated after the 2021 collapse of Mr Gupta’s backer Greensill Capital, and also ensure all 1,500 workers kept their jobs.

Loading…