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Credit Suisse gets more cash in Greensill funds

Credit Suisse (CSGN.S) has recovered more cash from the frozen supply chain finance funds linked to Greensill and has filed seven insurance claims in the matter so far, its asset management arm said on Monday.

“Together with the cash that has already been distributed and cash remaining in the funds as of January 31, 2022, the cash position is equivalent to approximately $7.3 billion, or 73% of the funds’ AuM at the time of their suspension,” it said.

The bank said last month it had recovered $7.2 billion in the funds that it suspended last March. read more

Reporting by Michael Shields, editing by John Revill.

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