Credit Suisse’s asset management arm has made five filings on insurance claims related to its Greensill-linked supply chain finance funds as part of its broader asset recovery efforts.
As of December 31, Credit Suisse Asset Management had filed five claims related to $846 million in exposure for its Luxembourg-based supply chain finance fund, the bank said in a published document, and two claims for its high-income supply chain finance fund related to $326 billion in exposure.
Some of the claims submitted were related to both funds but the bank did not specify with whom it had made the filings.
Asset Recovery Progress
Following the collapse of around $10 billion in Greensill-linked funds, Credit Suisse has managed to recover some $7.2 billion.
Its most recent efforts are focused in $2.3 billion of loans provided by Greensill to three counterparties, including Softbank-backed Katerra.
Earlier this month, Credit Suisse won a U.S. court order to seek information from Softbank which could subsequently lead to legal action in the U.K.
Softbank has denied any wrongdoing.
