Greensill Group entities packaged up invoice “receivables” and sold them to Credit Suisse. The Swiss bank sold them on to investors, with insurance a key to investors being satisfied they were protected if things went awry.
Creditors are now suing in the Federal Court, seeking to collect on insurance claims after Greensill Group entities collapsed last year.
White Oak Commercial Finance Europe is seeking $US146 million for debts owed by customers of GFG Alliance’s Liberty Commodities,…