Zurich accuses Greensill administrators of fraud in new legal battle

Switzerland-based Zurich Insurance Group Ltd. has filed a £320 million ($404 million) defense and counter-claim against the now collapsed supply chain finance firm Greensill Capital Pty Ltd., and its administrators, alleging that it was a victim of a fraud, The Guardian reported. Zurich has drawn Greensill’s founder Lex Greensill, metals magnate Sanjeev Gupta and three of his businesses, part of the Gupta Family Group Alliance, into the battle.