Credit Suisse Loses Trial With SoftBank Over Greensill Trades

Credit Suisse loses 440 million US dollar claim against SoftBank Group

In early 2021, Credit Suisse found itself exposed to the collapse of Greensill Capital.

Credit Suisse Loses Trial With SoftBank Over Greensill Trades

Lex Greensill faced severe criticism from a London judge who ruled in favor of SoftBank Group Corp. after a trial over hundreds of millions in investor losses tied to a series of trades made by his now-collapsed trade finance firm.

Credit Suisse loses SoftBank case over US$440mn Greensill losses

Credit Suisse has lost a US$440mn lawsuit against SoftBank Group, which it accused of orchestrating a string of transactions to avoid being left with Greensill-related losses.  The case relates to investments made by a Credit Suisse fund in receivables sold by construction group Katerra, according to an October 15 judgment. The notes had been originated and securitised by Greensill Capital, which fell into insolvency in March 2021.  Katerra rece…

Credit Suisse’s legal bid to recover Greensill losses from Softbank fails

Swiss lender Credit Suisse has failed in its attempt to recover $440m from Softbank following the collapse of financial firm Greensill Capital. Credit Suisse – now UBS – was hit hardest by Greensill’s collapse, owing to its significant exposure through various funding and investment vehicles. Greensill Capital, founded by Alexander (Lex) Greensill, went under in March 2021. More than 1,000 professional investors across Europe and Asia lost $10bn…