Credit Suisse seeks to sue SoftBank in England

One source familiar with the matter said that Credit Suisse Group AG has applied to the English High Court to initiate formal legal proceedings against Japan's SoftBank Group Corp over a $440 million dispute.

Switzerland's second-largest bank is trying to recover funds that Greensill Capital, a defunct finance firm, had loaned to Katerra, a SoftBank-backed U.S. construction group that filed for bankruptcy last year.

Credit Suisse is trying to recover money from the collapse of some $10 billion in funds linked to the insolvent supply chain finance firm Greensill.

In the US, the bank filed a petition in the United States seeking information that would support a lawsuit it plans to file against SoftBank and other affiliates in Britain over the money it said was owed by Katerra.

The Swiss bank is trying to establish what SoftBank executives, including chair and chief executive Masayoshi Son, knew about Katerra's restructuring plans.

Credit Suisse didn't want to say anything. The Financial Times reported the move on Thursday.