Debt Disclosure Problems

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According to the New York Times, Greensill Capital promised a win-win for buyers and sellers, until it all fell apart, igniting concerns about opaque accounting practices.

Questions:

  1. How much was Greensill valued at less than 2 years ago?
  2. Explain how Greensill’s problems extend to the U.S.
  3. Explain Mr. Greensill’s position in the firm as the founder of the supply chain finance company.
  4. What does the FASB plan to do about supply chain finance disclosures and when?

Source:

Nelson, E. , J. Ewing, and L. Alderman. (2021). The Swift Collapse of a Company Built on Debt. The New York Times, March 28 (Retrievable online at https://www.nytimes.com/2021/03/28/business/greensill-capital-collapse.html)