ZURICH (Reuters) – Credit Suisse plans to return more cash to investors in $10 billion worth of supply chain finance funds linked to stricken Greensill in early to mid-April, the Swiss bank said.
“Over time, we expect the majority part of the funds’ investments to be recovered in the liquidation process, and we have recourse to other measures should they be necessary, including possible legal action. We continue to explore other options for expediting the return of cash to investors,” it said in a notice to investors https://www.credit-suisse.com/uk/en/asset-management/funds/notice-to-investors.html dated March 31 and posted on its website.
The funds had $1.5 billion in cash as of March 29.
(Reporting by Michael Shields; editing by Jason Neely)
