On June 10, 2025, financier Lex Greensill testified in a London court that SoftBank Group had a “code of silence” in its transactions with the company to hide potential losses. This is Greenhill’s first public court appearance since the collapse of his company.
Credit Suisse is filing a $440 million lawsuit against SoftBank, accusing it of having a relationship with the construction startup Katerra Inc in 2020. The restructuring agreement fabricated transactions in order to withdraw funds from Greenhill’s trade finance company. Credit Suisse said that SoftBank knew Greenhill was unable to repay its debts but still transferred funds through the deal.
Greenhill said the deal was aimed at removing losses from SoftBank’s income statement and claimed that he was forced to accept this “painful” arrangement. A few months later, SoftBank refused to provide a $1.5 billion transitional loan, leading to the collapse of Greensill Capital. Subsequently, Credit Suisse froze the related funds.
Greenhill disclosed that his close relationship with Masayoshi Son, the founder of SoftBank, has caused dissatisfaction among some senior executives, leading to the obstruction of cooperation. He called Masayoshi Son “a person who can foresee what ordinary people cannot see”, but some senior executives consider him “dishonest” and “cunning”.
SoftBank denied the accusations, saying that Credit Suisse was trying to shirk responsibility for its own investment mistakes and emphasizing that the $440 million note should have been used to repay Credit Suisse. Credit Suisse hopes to recover funds for investors through litigation.
Greenhill is facing a lawsuit by the British government to disqualify him as a director, and the management of his company has also filed a civil claim against him. This case is one of the global legal disputes triggered by the collapse of Greenhill Capital.
Greenhill will continue to be questioned by lawyers from both sides, and the case hearing is expected to last for several days.
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