Sanjeev Gupta’s office landlord and a US investment group are pushing to wind up his commodities trading firm, opening up a new legal fight for the metals magnate who has spent the past two years battling creditors.
A subsidiary of German property group Patrizia is pursuing Liberty Commodities for £8.9mn through London’s high court, claiming the company “never paid a penny” towards a lease it took out on an office in the UK capital’s upscale Belgravia district in October 2019.
San Francisco-based White Oak, meanwhile, claims it was not paid $161.6mn under a receivables financing facility at Liberty Commodities when it came due in 2021, with the group alleging it is now owed more than $190mn when interest and other charges are taken into account.