Credit Suisse is seeking information through the U.S. courts which could lead to it taking legal action in Britain against SoftBank Group Corp to recover funds it says are owed to its Greensill-linked supply chain finance funds, U.S. court documents show.
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.Credit Suisse declined comment, while SoftBank did not immediately respond to a request for comment.
The Swiss bank has been focusing on some $2.3 billion in loans provided by Greensill, which imploded in March, to three counterparties including SoftBank-backed Katerra, for which late payments have accrued.
Katerra filed for bankruptcy in June, and had estimated liabilities of $1 billion to $10 billion and assets of $500 million to $1 billion, according to court filings at the time.
In a petition filed on Thursday with a U.S. federal court in San Francisco, Credit Suisse is seeking information it said would support a lawsuit it plans to file against SoftBank and other affiliates in Britain over $440 million it says are owed by Katerra.
