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Open Case:

Greensill Capital Funds - Credit Suisse/UBS - Loss Recovery

Company / Case:

UBS/Credit Suisse

Relevant period :

From January 1st, 2018 to February 25th, 2021

Security Identifiers:

See list below

Credit Suisse, the Swiss bank acquired by the rival UBS in March 2023 to avoid bankruptcy, has presented numerous financial instruments/investment solutions over the years, including many Investment Funds. Among them, almost $10 billion were linked to Greensill Capital, a British company engaged in supply chain financing that filed for bankruptcy in March 2021. 


As a result of Greensill Capital's bankruptcy in 2021, a large number of Credit Suisse Investment Funds (also known as Supply Chain Finance Funds, also the “SCF Funds” see comprehensive list below) suffered a serious collapse in their value, generating severe losses for those who had invested.


Martingale Risk is offering support to recover losses to those who purchased Greensill Capital/Credit Suisse Funds. We will be operating on a full contingent fee basis of the recovered amount, with no anticipated costs, fees or expenses for the clients.


At the root of the collapse of Credit Suisse - SCF Funds was the failure of the business model pursued by Greensill Capital, which consisted of offering anticipated (discounted) payments to suppliers. Theoretically, this solution on the one hand guaranteed immediate payment to suppliers, while on the other hand allowed the client-side to obtain more time to pay its operational debts. However, this scheme exposes the service company in the middle (here Greensill Capital) to the risk of a liquidity crisis due to debtors delaying or even defaulting on payments. All these risks materialized for Greensill Capital, leading to its default and thus involving also Credit Suisse that had financed Greensill Capital's activities by buying from the latter financial instruments issued precisely for this purpose(the “Notes”). Indeed, the underlying of the Notes were exactly the (current or even prospective) payments Greensill Capital expected to receive from its debtors. Naturally, the failure of Greensill Capital's business model led to the collapse of the value of the SCF Funds that Credit Suisse had marketed as safe investments but were actually overexposed to Greensill Capital's Notes.


Recently (11thJune, 2024) UBS, legally responsible for Credit Suisse after the March 2023 acquisition, basically admitted Credit Suisse’s responsibility for the mismanagement of the risks underlying the SCF Funds that lead to their price collapse, by presenting to the market a partial restoration plan for the “Credit Suisse Supply Chain Finance Funds”. In the second quarter 2024, UBS has already set aside around USD 0.9 billion in provisions.


It has to be mentioned that the Swiss Financial Market Supervisory Authority (FINMA) started an investigation in 2021 that, in February 2023, was concluded with the identification of a serious breach of Credit Suisse’s obligations under supervisory law with regard to risk management and adequate business organization related to the Greensill Capital case. Furthermore, FINMA has initiated four enforcement proceedings against former Credit Suisse managers that are currently undergoing. For a similar case, on July 2023 Bank of England’s Prudential Regulation Authority and the Federal Reserve Board imposed a USD 387.5 million fine to Credit Suisse for inadequate risk management and business organization.


Our proposal

Martingale Risk offers support to all the investors that suffered losses having purchased Greensill Capital – Credit Suisse Funds. Please contact the below individuals for a free non-binding preliminary analysis.


Credit Suisse - Supply Chain Finance Funds

Securities Identifiers:

ISIN CODE

FUND IDENTIFYING CODE

FUND FULL NAME

LU1598747886

CS LUX SUPP CH FIN-IBH25 EUR

Credit Suisse Supply Chain Finance Fund

LU1598746482

CS SUPPLY CHAIN FIN FD-DBUSD

Credit Suisse Supply Chain Finance Fund

LU1624420748

CS SUPPLY CHAIN FIN -IB5USD

Credit Suisse Supply Chain Finance Fund

LU1624422280

CS SUPPLY CHAIN FN -IAH25EUR

Credit Suisse Supply Chain Finance Fund

LU1598746565

CS SUPPLY CHAIN FIN F-DBHEUR

Credit Suisse Supply Chain Finance Fund

LU1598747704

CS SUPPLY CHAIN FIN -IB25USD

Credit Suisse Supply Chain Finance Fund

LU1598747027

CS SUPPLY CHAIN FIN FD-IB 10

Credit Suisse Supply Chain Finance Fund

LU1598747530

CSLUX SUP CHN FN F-IBH10 SEK

Credit Suisse Supply Chain Finance Fund

LU1664199483

CS SUPPLY CHAIN FN -IAH10JPY

Credit Suisse Supply Chain Finance Fund

LU1624420821

CS SUPPLY CHAIN FN -IBH5 EUR

Credit Suisse Supply Chain Finance Fund

LU1624421555

CS LUX SUPP CH FIN-IA5 USD

Credit Suisse Supply Chain Finance Fund

LU1598747373

CS SUPPLY CHAIN FN -IBH10CHF

Credit Suisse Supply Chain Finance Fund

LU2035390371

CSLUX SUP CHN FN F-IBAH25JPY

Credit Suisse Supply Chain Finance Fund

LU1881903915

CSLUX SUP CHN FN F-IBH5 SGD

Credit Suisse Supply Chain Finance Fund

LU1598748777

CSLUX SUP CHN FN F-IBH100 GA

Credit Suisse Supply Chain Finance Fund

LU2035390967

CSLUX SUP CHN FIN F-IBH25JPY

Credit Suisse Supply Chain Finance Fund

LU1881904301

CS LUX SUPP CH FIN-IBH25SGD

Credit Suisse Supply Chain Finance Fund

LU1881904137

CS LUX SUPP CH FIN-IBH10 SGD

Credit Suisse Supply Chain Finance Fund

LU1624421126

CS SUPPLY CHAIN FN -IBH5 GBP

Credit Suisse Supply Chain Finance Fund

LU1598747969

CS LUX SUPP CH FIN-IBH25 CHF

Credit Suisse Supply Chain Finance Fund

LU1598746995

CS SUPPLY CHAIN FIN -DBH CHF

Credit Suisse Supply Chain Finance Fund

LU1624420318

CS LUX SUPP CH FIN-DA USD

Credit Suisse Supply Chain Finance Fund

LU1598748009

CS SUPPLY CHAIN FIN -IBH25 G

Credit Suisse Supply Chain Finance Fund

LU2005147181

CS LUX SUPP CH FIN-IAH10GB

Credit Suisse Supply Chain Finance Fund

LU1598747290

CS SUPPLY CHAIN FIN -IBH10E

Credit Suisse Supply Chain Finance Fund

LU1897426810

CS LUX SUPP CH FIN-IA10 USD

Credit Suisse Supply Chain Finance Fund

LU1624422108

CS LUX SUPP CH FIN-IA25 USD

Credit Suisse Supply Chain Finance Fund

LU1598748348

CS LUX SUPP CH FIN-IB100USD

Credit Suisse Supply Chain Finance Fund

LU1799128993

CS NOVA LUX SUPCHFIN-IBU

Credit Suisse Nova Lux Supply Chain Finance High Income Fund

LU1799128217

CS NOVA LUX SUPCHFIN-EBHE

Credit Suisse Nova Lux Supply Chain Finance High Income Fund

LU1799131781

CS NOVA LX SUP CH FN-IB25USD

Credit Suisse Nova Lux Supply Chain Finance High Income Fund

LU1799128480

CS NOVA LUX SUPCHFIN-IAU

Credit Suisse Nova Lux Supply Chain Finance High Income Fund






Chi siamo - Marco e Pratesi.png

Marco Delzio 

CEO & Founder

Alessandro Proietti

Alessandro Proietti

Quantitative Analyst - Head of the International Team

Clizia Mongelli

Clizia Mongelli 

Business Development Consultant

Olga Vereemenko

Olga Veremeenko 

Project Officer

Contact

Please contact us here for more information regarding our case and your preliminary analysis data submission.

Feel free to further reach us directly at +39 0632652828.

Contact us for your free preliminary analysis!

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