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Credit Suisse files five insurance claims on Greensill-linked funds -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – The logo of Swiss bank Credit Suisse can be seen in a Branch Office in Basel on March 2, 2020. REUTERS/Arnd Wiegmann

ZURICH (Reuters). Credit Suisse The bank stated that SIX has submitted five insurance claims in relation to Greensill-linked finance funds.

According to the bank, five of its claims regarding exposure of $846million to its Luxembourg-based supply channel finance fund were filed as of December 31, according to a published document on their website. It also filed two claims about exposure to its high income supply network finance fund for $326million.

According to the bank, some claims related to both funds were made.

Switzerland’s second largest bank is working to recuperate funds lost in the collapse of approximately $10 billion linked to Greensill, an insolvent supply-chain finance company.

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