Credit Suisse is still trying to claw back funds from its Greensill Capital-linked supply-chain funds. Now an entrepreneur in the U.S. has offered the bank a deal.
The U.S. American entrepreneur Jim Justice, who is also a governor in West Virginia, has offered to pay Credit Suisse $300 million, as well as proposing to hand over the proceeds from the sale of Bluestone Resources to settle debts owed to the bank’s Greensill Capital-linked supply-chain finance funds, according to the «Financial Times» (behind paywall).
Big Debtor
The deal on the table represents less than half of the $700 million the bank has previously said it is owed by the entrepreneur. Justice, borrowed $850 from Greensill via his coal mining company Bluestone Resource, according to an initial «Wall Street Journal» (behind paywall) report. The majority of the loan was sold to Credit Suisse investment funds, making Justice one of the bank’s main Greensill debtors.
