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Downward trend: at
least most of the money that Softbank boss
Masayoshi Son
(63) has put into the Greensill Group will have to be written off for the most part
Photo: Kazuhiro NOGI / AFP
The bankruptcy of the British-Australian Greensill Capital, for whose German subsidiary Greensill Bank has also been filed for bankruptcy, threatens to be expensive especially for the Japanese tech investor Softbank: Softbank has lent the company 1.15 billion dollars and is thus apparently one of the largest creditors in bankruptcy proceedings.
That came out at the first creditors' meeting, which took place on Friday in Australia as well as virtually, as reported by Bloomberg.
According to the report, claims by 34 creditors totaling $ 1.35 billion for Greensill Capital have been filed with insolvency administrator Grand Thornton.
The number of creditors as well as the total should increase, however, it is said.
Because other creditors can still assert claims.
In addition, individual donors have so far only given symbolic sums that are likely to be specified - i.e. increased - in the near future.
Softbank's Vision Fund put $ 1.5 billion in Greensill Capital in 2019, according to Bloomberg.
The value has now largely been written off, it is said.
Softbank did not comment on the information.
Among other things, according to the report, there could also be a claim of around two billion euros from the German Bankers Association on the insolvency administrator of Greensill Capital.
However, this has not yet been formally confirmed.
A separate insolvency procedure was initiated for Greensill Bank in Bremen, independent of the procedure for Greensill Capital.
The British-Australian investment house Greensill Capital owned by Australian
Lex Greensill
, which
specializes in supply chain financing, ran
into trouble a few weeks ago.
As a result, Bremer Greensill Bank, a subsidiary of the group, went bankrupt.
At the bank, investors are now hoping for the deposit protection fund of the banks in Germany, which will replace their billions of dollars in money.
Several municipalities, which together had also invested a three-digit million sum at the bank, should go away empty-handed, however, they are not covered by the deposit protection fund.
In addition to Softbank, the Swiss bank Credit Suisse is among the main victims of the mother Greensill Capital.
The institute has already announced that it expects defaults in funds totaling ten billion dollars that Credit Suisse has jointly managed with Greensill, according to Bloomberg.
Credit Suisse has only seen $ 50 million of a $ 140 million loan to Greensill so far.
According to Bloomberg, Credit Suisse has also filed for insolvency proceedings against Greensill Capital.
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