London | British metals tycoon Sanjeev Gupta’s bid to keep his global empire afloat took another blow on Tuesday (Wednesday AEDT) after Credit Suisse reportedly lodged a court filing to wind up his key commodities-trading unit.
According to Bloomberg and the Financial Times, Citigroup filed the application on Credit Suisse’s behalf, as the Swiss giant tries to recover money for investors in its $US10 billion ($13 billion) worth of funds that bankrolled the operations of collapsed supply-chain financier 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.
