EMBATTLED lender Credit Suisse is reportedly readying a £350m claim against Softbank over the bankruptcy of US construction firm Katerra, which imploded after supply chain finance firm Greensill Capital collapsed last year.

Credit Suisse claims it lost hundreds of millions of pounds when tech-led construction firm Katerra collapsed in June 2021, which it blamed on former lender Greensill. The firm is now set for a High Court battle with Softbank, a major investor in Katerra via its vision fund, according to documents seen by the Mail on Sunday.

Softbank rejects Credit Suisse's claims, the Mail on Sunday reported.

The Swiss bank has already lodged an application in the US calling for Softbank to hand over information which could be used in "a planned court proceeding in England".

Greensill's collapse forced the Swiss lender to suspend $10bn in funds linked to the firm.

Softbank and Credit Suisse did not respond to City A.M.'s request for comment.

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