Credit Suisse files five insurance claims on Greensill-linked funds
Written by on January 13, 2022
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)