Financier Lex Greensill Decries ‘Code of Silence’ Around SoftBank Deals

Financier Lex Greensill said there was a “code of silence” around a series of transactions with SoftBank Group Corp. to keep potential losses hidden, in his first public court appearance since the high-profile collapse of his firm.

Greensill is giving evidence at a $440 million London trial brought by Credit Suisse against SoftBank over a restructuring agreement with Katerra Inc. that involved his trade finance firm in 2020. Credit Suisse alleges SoftBank concocted the restructuring so that it could pull its own money out of the firm, knowing that Greensill, already in free-fall, would be unable to repay the $440 million it owed to Credit Suisse.