Credit Suisse Edges Toward $440 Million Clash With SoftBank
- Court says Swiss firm’s supply chain fund has ‘victim’ status
- Credit Suisse, SoftBank have been engaged in legal skirmishes
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Credit Suisse Group AG cleared the first hurdle toward kick-starting a long-awaited $440 million lawsuit against SoftBank Group Corp. stemming from the spectacular collapse of finance firm Greensill Capital.
A London judge said Wednesday that the Swiss lender’s supply chain fund could be considered a “victim” of a series of contested transactions and bring the claim itself rather than the liquidator of Greensill. The judge said SoftBank could still defend itself before a formal suit can be issued.