FL-2022-000014 - [2025] EWHC 2631 (Ch)

Around July 2019 SBG and the Greensill Group entered into discussions regarding revisions to the CEP. On 20 August 2019 SBG and the Greensill Group held a meeting at which the CEP was discussed. At that meeting, the parties discussed a “Non-binding indicative term sheet”, and a summary document.

At a conference hosted by SBIA in September 2019 in California also attended by Mr Marks, the CEO of Katerra, Mr Greensill met Mr Yoshimitsu Goto (then Senior Vice President, CFO and Chief Information Security Officer at SBG), Mr Seiichi Morooka (Head of SBG’s CFO Office), and Mr Shintaro Isono (a partner in SBG’s global debt capital markets division). An email sent by Mr Greensill to Mr Goto, Mr Morooka and Mr Isono on 23 September 2019 stated that they had discussed “the CEP program and future plans”.

A draft application for the Credit Committee of GCPL dated 29 September 2019 described the proposed terms of the revised CEP as a joint venture between a SBG special purpose vehicle and GCUK (“the CEP JV”).