Brenna Hughes Neghaiwi, Sabahatjahan Contractor

(Reuters) – Credit Suisse (SIX 🙂 requests information via the U.S. Courts that may lead it to taking legal action in Britain towards SoftBank Group Corp, to recover funds it believes are owed funds to its Greensill linked supply chain finance funds. U.S. court records show.

Switzerland’s 2nd-largest bank worked to collect funds after the collapse in excess of $10 billion from funds tied to Greensill (insolvent supply chain finance firm Greensill).

SoftBank declined to comment while Credit Suisse did not comment.

The Swiss bank is currently focusing on approximately $2.3 billion worth of Greensill loans, which were transferred to three counterparties (including SoftBank-backed Katerra) in March. These late payments are still accrued.

Katerra filed for bankruptcy on June. According to court filings from that time, the company had liabilities estimated at $1 billion to $10 Billion and assets estimated at $500 Million to $1Billion.

Credit Suisse filed a Thursday petition with the U.S. Federal Court in San Francisco seeking information that would help it file a lawsuit against SoftBank, and its affiliates in Britain for more than $440 million.

The Subpoena documents are pertinent to an expected court proceeding in England, against SoftBank Group Corp., along with certain affiliates, including SoftBank Vision Fund LP and SoftBank Vision Fund II-2 LP.

Credit Suisse has filed section 1782 Discovery (NASDAQ) on Thursday to seek documents and communications that were exchanged between SoftBank & Katerra. The statute permits foreign parties to file a section 1782 Discovery (NASDAQ:) to request evidence in the United States.

By subpoenaing documents to the U.S. courts, the Swiss bank wants to find out what SoftBank executives (including Masayoshi Son as chair) knew about Katerra’s restructuring plans.

On Friday, the Financial Times reported on this move for the first time.