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Credit Suisse files five insurance claims on Greensill-linked funds

Credit score Suisse (CSGN.S) has filed 5 insurance coverage claims associated to its Greensill-linked provide chain finance funds, the financial institution stated on Thursday.

As of Dec. 31, it had filed 5 claims associated to $846 million in publicity for its Luxembourg-based provide chain finance fund, the financial institution stated in a doc revealed on its web site, whereas it has filed two claims for its excessive earnings provide chain finance fund associated to $326 million in publicity.

The financial institution stated among the claims had been submitted in relation to each funds.

Switzerland’s second-largest financial institution has been working to get better funds from the collapse of some $10 billion in funds linked to bancrupt provide chain finance agency Greensill. read more

Reporting by Brenna Hughes Neghaiwi, enhancing by Silke Koltrowitz

 

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