Greensell Capital faces potential bankruptcy after Credit Suisse was suspended

Greensil Capital declined sharply after Credit Suisse Group AG suspended SoftBank Group Corp’s $ 10 billion mutual fund. Supported Financial Startup.

UK-based Greensill hired Grant Thornton to lead the company through a possible restructuring and could file for bankruptcy in a few days, equivalent to a UK bankruptcy, according to people familiar with the company is.

Meanwhile, Greensell is in talks with private equity giant Apollo Global Management to have it operational for around $ 100 million, according to people familiar with the talks.

Greensl’s problems surfaced on Monday, when Credit Suisse’s asset management arm announced that it would no longer allow investors to buy or sell four private equity funds based solely on debt-securities created by Grensl.

According to a statement from the bank’s investors, some funds are “currently exposed to considerable skepticism as to their exact estimate”. The Wall Street Journal reported on Sunday that according to people familiar with the case, the bank was concerned that Greensell was in contact with Sanjeev Gupta, a British steel mogul.

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