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Credit Suisse reveals $1.6b exposure to Sanjeev Gupta

London | Credit Suisse has harvested another $US2 billion ($2.6 billion) from the clients of collapsed supply-chain financier Greensill, and has promised “appropriate legal actions” to get money back for the 1000 investors trapped in its frozen $US10 billion Greensill-linked funds.

Credit Suisse’s announcement on Tuesday came with an admission that the funds had a $US1.2 billion exposure to the opaque and ailing empire of British steel magnate Sanjeev Gupta, who has reportedly stopped repaying money he owes to the Swiss funds via Greensill.

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Hans van Leeuwen is international economy editor for The Telegraph UK. He was previously The Australian Financial Review’s Europe correspondent.

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    Original URL: https://www.afr.com/companies/financial-services/credit-suisse-reveals-1-6b-exposure-to-sanjeev-gupta-20210413-p57iz0