Credit Suisse loses $440 mln UK lawsuit against SoftBank over Greensill losses

Credit Suisse on Wednesday lost its $440 million London lawsuit against Japan's SoftBank Group Corp over losses linked to collapsed finance firm Greensill Capital.

Greensill's collapse made Credit Suisse close $10 billion of funds linked to the financial firm and, along with other scandals, led to the 2023 state-backed rescue of the 167-year-old Swiss bank by rival UBS Group.

UBS pursued the case against SoftBank, with a trial heard at London's High Court in June. Judge Robert Miles said in a written ruling that he had dismissed the lawsuit.