Credit Suisse has so far clawed back $US5.6 billion for investors in the frozen funds, but it is still grappling with several large debtors whose ability to repay the Greensill debts is in question.
GFG and other companies took invoices – debts they owed or were owed – and in effect sold them to Greensill Capital, which funded the scheme by packaging the outstanding invoices into bonds and on-selling them to Credit Suisse.
When Greensill collapsed in early March, Credit Suisse was left holding the companies debts – and not all the companies were able to pay it back.
The three debtors of most concern are GFG alliance, US coal company Bluestone ($US700 million) and Softbank-backed Katerra ($US400 billion).
Bluestone is ch…