US EditionCredit Suisse Loses Trial With SoftBank Over Greensill Trades
- Credit Suisse lost a 440 million US dollar claim against SoftBank Group regarding a restructuring agreement involving Greensill Capital's collapse.
- Lord Justice Miles dismissed Credit Suisse's claim, ruling that SoftBank was not liable for the deal that affected Credit Suisse financially.
- The court concluded that SoftBank did not know of any agreements that aimed to harm Credit Suisse financially.
- A spokesperson for UBS, which acquired Credit Suisse, acknowledged the court's decision regarding this matter.
11 Articles
11 Articles
The Independent
The Independent (US)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.
Moneycab
HandelszeitungThe CS had claimed damages of $440 million in Softbank's case.
The judge concluded that a Japanese group acted as "boa-fé" during the negotiations and, in fact, intended to compensate the investors of the Credit Switzerland
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…
The old Greensill ghost of Credit Suisse is likely to be finally sold out for the new owner UBS. Grossbank had continued a lawsuit in London from the CS-Altlast and is now inferior.
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