Credit Suisse small advance on the Greensill file

Credit Suisse to seek repayment in the liquidation of Greensill funds. The Swiss bank has just filed its sixteenth insurance claim, it announced last weekend. This brings the total outstanding amounts covered by these claims to $ 2.1 billion. D’autres should be filed in the future, before Credit Suisse AM in a statement.

The latest insurance claims have not yet changed the amount reimbursed to the parties. These have so far received $ 6.75 billion, out of Credit Suisse’s 7.3 billion cash.

On Friday, the bank announced the conclusion of an agreement with the Canadian mining company Bluestone Resources. This agreement stipulates des paiements in souffrance up to $ 320 million (€ 302 million) out of a total of $ 850 million recovered. Bluestone has pledged to make recurring cash payments to its creditors from this month, and includes supply chain financing (CFS) funds linked to the British factoring company Greensill, which went bankrupt in 2021. These payments can then be redistributed to investors in these funds, the Swiss bank said in a statement. Payments will be shared between the different creditors, but 81% fall into the scarcelle of Credit Suisse, or just over $ 250 million.

The agreement is subject to the fulfillment of certain necessary conditions and regular approvals of use.


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