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Once close, Credit Suisse and SoftBank enter bitter court battle

Yearslong Greensill dispute reignited with UBS takeover of Swiss lender looming

Credit Suisse has been mired in a series of scandals in recent years, culminating in its rescue by rival UBS.   © Reuters

LONDON/PARIS -- Credit Suisse's dispute with SoftBank Group stemming from the collapse of Greensill Capital is finally headed to court in London two years after news of it first broke, further driving a wedge into a once-close relationship.

Credit Suisse's losses over Greensill had dented the market's confidence. This, combined with the recent banking-sector turmoil, contributed to the Swiss bank's downfall. Credit Suisse is seen taking the dispute to the next level to shore up its credibility ahead of a takeover by UBS orchestrated by the Swiss government.

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