The lawsuit brought to light a series of embarrassing exchanges between executives at Marsh where they discussed the escalating financial crisis engulfing Greensill and its main insurer, Australia’s Bond & Credit Co, in the run-up to Greensill’s collapse.
In an email exchange from 2020 that was shared with the court, a Marsh executive described the situation surrounding Greensill’s insurance contracts as “a frightening absence of corporate governance: this is fraud which may well be in breach of the Australian legal code as it applies to insurance companies”.