Credit Suisse Applies to Kick-Off London Softbank Lawsuit

In late 2020, Greensill restructured its relationship with Katerra and wrote off $440 million of obligations it was owed by Katerra, obligations that Greensill had earlier used to back the identical dollar amount of notes it had sold to Credit Suisse. Credit Suisse believes SoftBank concocted the restructuring so that it could pull its own money out, knowing full well that Greensill, already in freefall, would be unable to repay the $440 million it owed to Credit Suisse. 

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