Credit Suisse is trying to recover the cost of collecting supply chain finance funds


Zurich-Credit Suisse aims to recoup external costs incurred to recover money for investors in its helpless supply chain financial fund linked to Greensill, Swiss banks Said on Thursday.

“(Credit Suisse Asset Management) CSAM’s collection work on behalf of fund investors inevitably incurs external costs, and most of these external costs are still on the investor’s side. It has not been passed on. ” “CSAM has prepaid as much of this cost as possible and will try to recover the amount incurred when appropriate.”

Banks say they expect to incur a payback cost of about $ 145 million this year after Credit Suisse’s $ 10 billion worth of supply chain finance fund collapses in March. We work with advisors and outside experts to help with the recovery of funds, of which approximately $ 7 billion was recovered by the end of September.

Reuters

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