Sep 20, 2026 (The Australian Financial Review - ABIX via COMTEX) --
Hearings in what could have been the one of the biggest commercial trials in Australian history were due to begin in the Federal Court on Monday. However, the trial will not go ahead, after Insurance Australia Group agreed to settle a multibillion-dollar claim with Credit Suisse over the 2021 collapse of supply chain financing firm Greensill Capital, with the claim being Credit Suisse's final attempt to recoup almost $3 billion in debts it was owed by Greensill Capital, which specialised in buying billions of dollars worth of invoices from suppliers to companies. It packaged up those invoices and then sold them off to a number of companies, including Credit Suisse, with the invoices supposed to be protected by insurance policies. Credit Suisse had argued IAG should cover Greensill's debts because IAG unit Bond & Credit Co was its main insurer.
Publication Date: 21 September 2026
FEDERAL COURT OF AUSTRALIA
INSURANCE AUSTRALIA GROUP LIMITED - ASX IAG
CREDIT SUISSE AG
GREENSILL CAPITAL (UK) LIMITED
COMTEX_492989367/2229/2026-09-20T18:11:05
By Janek Drevikovsky and Joanne Tran and Jenny Wiggins
Copyright 2026 Roy Morgan Research. All Rights Reserved.
