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Credit Suisse launches legal action against SoftBank

Swiss bank seeks to learn what Masayoshi Son knew of workings of $440m deal

Credit Suisse has filed a section 1782 discovery in the US, which would allow it to obtain documents and communications exchanged between SoftBank and US construction company Katerra.   © Reuters

Credit Suisse has launched legal action against SoftBank in an effort to recoup hundreds of millions of dollars it claims it is owed by the Japanese investor, marking a further deterioration in a relationship that has grown increasingly acrimonious following the collapse of Greensill Capital.

The lawsuit relates to $440m in funds that were owed to the Swiss bank's wealthy customers by Katerra, a US construction company. Katerra, which was funded by SoftBank's Vision Fund and was a client of Greensill, filed for bankruptcy in June this year with more than $1bn in liabilities.

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