Administrators for collapsed finance firm Greensill Capital have warned they could attempt to seize assets from steel magnate Sanjeev Gupta to recover $587m (£472m) in unpaid funds. GFG Alliance, a collection of companies headed by Mr Gupta, has been targeted by the administrators having been one of Greensill’s most prolific borrowers before its collapse. As a specialist lender that advanced cash to companies so they could pay suppliers early, Greensill was reportedly owed £3.7bn from GFG at the time of its failure in 2021. This includes $587m owed to the UK arm of Greensill Capital, which is yet to be repaid despite long-running negotiations, according to an update published by administrators at Grant Thornton. Talks over repayment were ongoing but if these fail then Greensill’s administrators said they would “consider recovery options that are available” under security and guarantees given by GFG for various loans. It is common for borrowers to put up certain assets as security for loans in the event they cannot make repayments, or offer up guarantees that a third party will pay on their behalf as a last resort. However, the administrators declined to give further details “so as not to prejudice our position”. They added...