Credit Suisse Applies to Kick-Off London SoftBank Lawsuit
- Request filed on Aug. 3 with High Court to open UK litigation
- SoftBank claims Credit Suisse ‘desperate’ to shift blame
The Credit Suisse Group headquarters in Zurich, Switzerland.
Photographer: Pascal Mora/BloombergThis article is for subscribers only.
Credit Suisse Group AG filed for permission to kick-off a long anticipated lawsuit blaming SoftBank Group Corp. in part for losses the Swiss lender’s clients suffered from the collapse of finance firm Greensill Capital.
Credit Suisse filed the request at a London court on Aug. 3, a necessary preliminary step because the clients’ money was not lent by the bank but by Greensill, said people familiar with the litigation who who asked not to be identified. The Financial Times reported the filing earlier on Thursday.