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Credit Suisse steps up $440 million legal dispute with SoftBank

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Reuters

(Reuters) -Credit Suisse Group AG has applied to the English High Court to initiate formal legal proceedings against Japan’s SoftBank Group Corp over a $440 million dispute, one source familiar with the matter said on Thursday. Switzerland’s second-largest bank is trying to recover funds that Greensill Capital, a defunct finance firm, had lent to Katerra, a SoftBank-backed U.S. construction group that filed for bankruptcy last year. Credit Suisse has been working to recover money from the collapse of some $10 billion in funds linked to the insolvent supply chain finance firm Greensill. Last ye…

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