Tokyo-based Yamazaki Marunouchi Law Office has filed a lawsuit against Credit Suisse Securities Japan Ltd with the Tokyo District Court. The firm is representing an unlisted Japanese company and its founder seeking approximately $49 million in compensation for bonds linked to a now-bankrupt Greensill Capital-run fund, Law.com International has learned.
The plaintiffs purchased around $63.3 million worth of bonds sold by Credit Suisse. Returns on the bonds were linked to the performance of the Credit Suisse Nova (Lux) Supply Chain Finance High Income Fund, one of four Supply Chain Finance (SCF) funds that invested in short-term loans-backed supply chain finance securities created by the Softbank-backed U.K. financial services firm Greensill Capital.
