Jul 26, 2026 – 8.00pmCompanies controlled by Sanjeev Gupta were moving money out of the Liberty Bell Bay manganese smelter in Tasmania even after the corporate regulator moved to wind up the business, with administrators raising suspicions with creditors about the timing of transactions.In one instance, Liberty Bell Bay paid Gupta’s GFG Alliance about $1.5 million two weeks after the Australian Securities and Investments Commission began its attempts at removing management, and just three days before lenders moved in and installed administrators.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
EY points to suspiciously timed Gupta transactions at failed smelter
Companies controlled by the British industrialist were repaid their debts even as the corporate regulator was trying to wind up the plant earlier this year.
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