Last week reports surfaced that Credit Suisse was owed over $100 million by a Mexican financial institution. Credit Suisse pushes back.
A finance company in Mexico that is in bankruptcy proceedings with over $2.6 billion in debt was reported to owe Credit Suisse a large chunk of that money.
Mexico's Credito Real owes Credit Suisse $106 million, the largest sum owed to a foreign institution, as reported by finews.com. The firm entered bankruptcy proceedings in July after defaulting earlier in the year, according to a «Reuters» report which cited the publication «El CEO».
Private documents showed that Credit Suisse was owed $106 million, making it the largest debt owed to a foreign institution by Credito Real, which announced it began bankruptcy proceedings in July after defaulting earlier in the year, according to the report.
No Material Exposure
Credit Suisse for its part denied this, with a spokesperson for the bank telling finews.com that «Credit Suisse has no material lending exposure to the company in question», adding that «any suggestion otherwise is unfounded.»
