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 …
Credit Suisse faced charges in a Swiss court on Monday of allowing an alleged Bulgarian cocaine trafficking gang to launder millions of euros, some of it stuffed into suitcases. In the first criminal trial of a major bank in Switzerland, …
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 …
The banker tasked with fixing Credit Suisse Group AG was ousted just nine months into the job for breaching COVID quarantine rules, throwing the Swiss financial giant into fresh turmoil as it struggles to emerge from a series of scandals. …
ZURICH — Credit Suisse has filed five insurance claims related to $1.17 billion in exposure across two of its Greensill-linked supply chain finance funds, the bank said on Thursday. As of Dec. 31, it had filed five claims related to …
The business model used by collapsed supply chain financing firm Greensill Capital is causing a “high level of harm” and tighter rules are needed, Britain’s Financial Conduct Authority said on Friday. The watchdog set out proposals for public consultation to …
A first insurance claim has been filed and more are being prepared in Credit Suisse’s efforts to recover funds from its insolvent supply chain finance linked to Greensill, the Swiss bank said on Tuesday. The collapse of Credit Suisse’s $10 …
