Business
Greensill caps off horror week with fresh Credit Suisse revelations – Sydney Morning Herald
A senior source at Credit Suisse says the bank was not told by Greensill about the group’s long running insurance issues.
Teetering financial services house Greensill Capital has capped off an extraordinary week of bad news with revelations that it waited until only recently to tell its financial backer Credit Suisse it had no insurance for over $US4.6 billion ($5.9bn) worth of assets.
A senior source at Credit Suisse told The Age and The Sydney Morning Herald the bank had not been told by Greensill about its long running insurance issues despite the Swiss lender running a series of funds covering $10 billion of the…
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