Jul 24, 2026 – 5.53pmThe administrators of the Liberty Bell Bay manganese smelter in Tasmania have told creditors that the company’s previous owner, one-time British industrialist Sanjeev Gupta, loaned $191 million to his other businesses, and they expect there is almost no prospect of recovering that money.Sanjeev Gupta in 2023, when his GFG Alliance was expanding rapidly. Glenn CampbellSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
Liberty Bell Bay administrator says Gupta loaned himself $191m
In a report to creditors, EY said there had been more than $200 million in intercompany loans and dividends paid in the years before the smelter collapsed.
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