Credit Suisse is reportedly gearing up for litigation against SoftBank following the collapse of Greensill Capital.

Credit Suisse clients stand to lose up to $3bn following the collapse of Greensill, which was heavily backed by SoftBank’s Vision Fund.

The dispute is focused on $440m the bank’s customers are owed by Katerra, a US construction group that was a Greensill client and also supported by the Vision Fund, the Financial Times reported.

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Credit Suisse declined to comment. SoftBank and Katerra were contacted for comment.

Katerra was supported by Credit Suisse’s Greensill supply chain finance funds, which grew to $10bn before the bank suspended them in March, which helped tip Greensill into administration.

Credit Suisse has launched an investigation into the failure of its Greensill funds, which will examine what information was shared by Greensill and SoftBank with the Credit Suisse managers running the funds.

Credit Suisse bankers have been banned from doing new business with SoftBank, amid worsening relations between the pair, according to Bloomberg.

The dispute between the two could end up in court, the FT reported.

The report also said that SoftBank’s Vision Fund had instructed law firm Quinn Emanuel Urquhart & Sullivan to defend it against any Greensill-related lawsuits. Quinn was contacted for comment.

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Credit Suisse could also end up getting sued over its suspension of its Greensill funds, which left many investors out of pocket.

A number of claimant law firms have said they are building class action groups of Credit Suisse customers to bring claims against the bank.

To contact the author of this story with feedback or news, email James Booth

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