The fall-out from the collapse of the supply chain finance company Greensill last year continues apace. According to Reuters’ Zurich office, Credit Suisse has now filed 18 insurance claims linked to Greensill, up from 11 earlier this year. The total exposure is now about USD 2.2bn, which is double the amount of the insurance claims announced by Credit Suisse in January. The bank says that it has filed claims for all its supply chain finance fund programs “where there are insurable losses.” Providing the necessary information for these claims will take “some months” the bank told Reuters. However, settling the claims and arriving at a satisfactory resolution will take far longer and may well take years.
