Liberty Steel Unit sued over $ 138 million venture capital loan

By Lucia Osborne-Crowley (Sept. 24, 2021, 4:07 p.m. BST) – A US venture capital company is suing one of the companies controlled by steel mogul Sanjeev Gupta on loans totaling 137.7 million.

Lightship Capital II LLC told the High Court in a just-released lawsuit dated August 31 that Liberty Industries France – part of the Liberty Steel group owned by Gupta – was to be ordered to repay the $ 137 million loan .

The lawsuit argues that the original contract stipulated that if there was a change of control at Liberty Industries, the loans would be due immediately. Such…

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