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Investors set to get another $400 million from Credit Suisse supply chain funds

Investors set to get another $400 million from Credit Suisse supply chain funds
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Boies Schiller Flexner forming international investor group to recover losses - Greensill / Credit Suisse Supply Chain Finance Funds

Overview Boies Schiller Flexner (UK) LLP ( BSF ) is building a group of investors across Europe and Asia who invested in Credit Suisse s US$10bn Supply Chain Finance Funds ( SCFFs ). It is intended that the group will pursue Credit Suisse, including through litigation if necessary, to recover losses suffered with respect to the investments made in or with Greensill Capital. The firm takes the view that investors have credible claims against Credit Suisse for misrepresentation and mis-selling, which should be brought in a co-ordinated manner across jurisdictions. Investors should contact [email protected] for further details. Background Credit Suisse entities pro-actively marketed and sold investments in the SCFFs as cash-equivalent and low risk investments. In fact, the SCFF assets were notes backed by existing and future trade receivables originated and structured by Greensill Capital.

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Possible Litigation on Greensill Capital-Linked Credit Suisse Funds

Credit Suisse Group AG faces potential risks from investors in its Greensill Capital-linked funds. The Swiss bank was forced to freeze Luxembourg funds linked to financier Lex Greensill. The fund that is being probe is called Credit Suisse (Lux) Supply Chain Finance Fund. Credit Suisse marketed the funds as fully-insured and as a low-risk product, […]

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Credit Suisse temporarily replaces 3 executives amid supply chain finance funds terminations

Credit Suisse has temporarily replaced three executives as it continues to deal with issues related to its supply chain finance funds.

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Credit Suisse Risks Backlash From Investors in Greensill Funds

(Bloomberg) Credit Suisse Group AG risks a backlash from investors set to face potential losses after the bank was forced to freeze Luxembourg funds linked to financier Lex Greensill, according to a company that funds investment-recovery litigation. Credit Suisse continued to market the biggest of the funds as a fully insured, low-risk product despite a decision by insurers last summer not to renew coverage, said Edouard Fremault, a partner at Deminor in Brussels. He said his firm has already been approached by around 10 investors risking losses of about 60% and is reviewing options including potential lawsuits. “If you’re the promoter of a fund, don’t you think that you have the duty to inform your clients that the risk profile of your product has dramatically changed,” said Fremault. “It’s black or white, insured versus non-insured.” Credit Suisse froze the funds last week after doubts emerged about the valuations of some of the assets, kicking off a chain of events t

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