As we have Discussed, Frankly Relentless length, Credit Suisse spends Enough time In courts and law firms already. And, in terms of its taste, Hifalutin Investment Fund has lost enough funds recent. So, considering the rather frustrating things, Learn Regarding the supply chain finance company, the company’s products accounted for almost all four funds sold by Credit Suisse to customers and hired very expensive lawyers. The funds indicated that the supply chain finance company needs to continue financing the supply chain, and it will continue to do so. , Began to limit its future legal liability.
On Monday, Credit Suisse said it would prevent investors from buying and selling four private investment funds that rely entirely on securities issued by Greensill, and Greensill’s problem reached its culmination.
According to a notice from Credit Suisse to investors, Credit Suisse has frozen the funds because some of the assets “currently have great uncertainty regarding their accurate valuation.”
People familiar with the matter said that BaFin, the German banking regulator, began studying the relationship between Mr. Gupta’s business and Greenhill’s German banking sector last year. Regulators worry that Greenhill Bank has too much exposure to Mr. Gupta’s business.
People familiar with the matter said that another factor in Credit Suisse’s decision to suspend funding is that Greensail’s insurance policy has lapsed in recent days, which provides protection in case of asset default.
Of course, there will still be some very disturbing allegations in the inevitable litigation.
This is not the first time Greensill has been suspended. In July 2018, Swiss asset management company GAM Holding AG froze a $12 billion fund after an internal whistleblower was concerned about how the fund assessed Greensill’s assets. This includes hundreds of millions of dollars in current assets related to Mr. Gupta’s business.
Softbank’s multi-layered role in Greenhill has caused controversy. In addition to investing in Greensill itself and obtaining Greensill funds through its portfolio companies, SoftBank also invested $700 million in the Greensill Fund managed by Credit Suisse.
Of course none of the above For Leon Black & Co, it is too toxic.
People familiar with the matter said that Greenhill also negotiated with private equity giant Apollo Global Management Inc. to sell its operating business for about $100 million. Although the transaction will not involve all of Greenseal’s assets, the transaction represents only a small part of its highest valuation of $4 billion.