Credit Suisse files five insurance claims on Greensill-linked funds


FILE PHOTO: The logo of Swiss bank Credit Suisse is seen at a branch office in Basel, Switzerland March 2, 2020. REUTERS/Arnd Wiegmann

January 13, 2022

ZURICH (Reuters) – Credit Suisse has filed five insurance claims related to its Greensill-linked supply chain finance funds, the bank said on Thursday.

As of Dec. 31, it had filed five claims related to $846 million in exposure for its Luxembourg-based supply chain finance fund, the bank said in a document published on its website, while it has filed two claims for its high income supply chain finance fund related to $326 million in exposure.

The bank said some of the claims were submitted in relation to both funds.

Switzerland’s second-largest bank has been working to recover funds from the collapse of some $10 billion in funds linked to insolvent supply chain finance firm Greensill.

(Reporting by Brenna Hughes Neghaiwi, editing by Silke Koltrowitz)





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