Credit Suisse has been sued in Japan over bonds linked to a fund that the bank managed with the collapsed Greensill Capital, with JPY 7bn ($49m) sought in damages.
Today (7 July), the Yamazaki Marunouchi Law Office filed a lawsuit against Credit Suisse Securities (Japan), the bank's Japanese brokerage arm, with the Tokyo District Court on behalf of a Japanese company and its founder. According to a copy of the complaint obtained by Bloomberg, the plaintiffs alleged the bank misrepresented the products when it sold the securities, the returns of which were linked to a supply chain finance fund that eventually failed. Credit Suisse loan to Greensill based on questionable invoices - reports Taiju Yamazaki, an attorney‐at‐law at Yamazaki Marunou...
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