Credit Suisse Recoups 70% Of $10B Stuck In Greensill Funds

By Najiyya Budaly (September 7, 2021, 4:34 PM BST) -- Credit Suisse AG has recovered $7 billion of the $10 billion that had been trapped in four investment funds linked to Greensill Capital when the financing firm collapsed in March, according an update to investors Tuesday.

The Swiss lender also said it has filed one insurance claim and is preparing others in another attempt to recover money for clients who poured cash into the funds.

The Swiss bank's asset management arm said that it is preparing to file additional insurance claims through Greensill Bank, which is based in Germany, with the assistance of Greensill Capital (UK) Ltd. The asset manager, known as...

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