Credit Suisse has applied to the English High Court to initiate formal legal proceedings against Japan’s SoftBank Group Corp. in a $440 million dispute over Greensill-linked funds, two sources familiar with the matter said on Thursday. Switzerland’s second-largest bank is …
A group of ex-Greensill Capital employees sued the defunct firm in London, accusing management of unfairly keeping them in the dark about the company’s “imminent danger of collapse.” A group of 277 employees — less than half the UK workforce …
Credit Suisse on Sunday rejected a claim by Russian businessman Vitaly Malkin for 500 million francs ($515.62 million) he linked to a former client adviser at the bank who was convicted of fraud. The SonntagsZeitung reported that Malkin was pursuing …
Proxy advisers Glass Lewis and ISS have recommended Credit Suisse’s shareholders vote against discharging the bank’s board and management from liability for the 2020 financial year at its annual general meeting on April 29. Glass Lewis said in a report …
Greensill Capital collapsed more than a year ago, but $9.3 billion of assets sold to investors as notes are yet to pay out. The lender, which collapsed in March 2021, sold short-term trade finance products to investors including funds run …
Companies linked to insolvent British financier Lex Greensill obtained insurance fraudulently, insurer Tokio Marine said on Monday, adding it did not plan to pay out on the policies and would “vigorously defend” itself against any legal claims. Greensill’s supply chain …
Credit Suisse said on Monday that litigation related to Greensill supply chain finance funds (SCFF) could take around five years and warned that some investors would not be able to recover their money. Credit Suisse racked up a 1.6 billion …
A Bermuda court on Tuesday ruled former Georgian Prime Minister Bidzina Ivanishvili and his family are due damages “substantially in excess of $500 million” from Credit Suisse’s local life insurance arm in a costly setback for the bank. The court …
Some shareholders in Credit Suisse do not want the bank to hold a vote in the annual meeting on absolving senior executives from losses racked up in the Greensill affair, The Financial Times reported on Sunday. Investors have also raised …
Swiss prosecutors are pursuing around 42.4 million Swiss francs ($45.5 million) in compensation from Credit Suisse in a money-laundering trial due to begin on Feb. 7, the Swiss Federal Criminal Court (FCC) said on Monday. The Office of the Attorney …
