IAG Reaches Settlement over A$2.8bn Credit Suisse Greensill Claims
IAG said the deal would not materially affect 2027 results as it closes most of the Greensill-related exposure.
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8 Articles
Credit Suisse withdraws its lawsuit against the Australian insurer and agrees out of court – only days before a court in Sydney should judge.
IAG reaches settlement over A$2.8bn Credit Suisse Greensill claims
Insurance Australia Group (IAG) has reached a confidential settlement with Credit Suisse entities over approximately A$2.8bn of claims arising from the collapse of Greensill, in the latest step towards winding down a major trade credit insurance dispute. IAG said in a new update today that its subsidiary Insurance Australia Limited (IAL) had agreed to settle the Credit Suisse proceedings in the Federal Court of Australia. The aggregate face valu…
Trial set in White Oak's Greensill case, as IAG firms up Credit Suisse pact
Save (0) Please login to bookmark Close Username or Email Address Password Remember Me A judge has set down the start of trial in Greensill investor White Oak’s case against Insurance Australia Group, as the insurer finalises its settlement with Credit Suisse and UBS over the collapse of the supply chain funder. Subscribe to Lawyerly to access this article. Already a subscriber? Username or Email…
In the Greensill debacle, UBS makes a confidential comparison with IAG. This could be felt financially by the bank in the third quarter.
Credit Suisse, which is taken over by UBS, closes another legacy in the reprocessing of the Greensill debacle. She has now agreed to a settlement in a billion-dollar lawsuit against the Australian insurer IAG.
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