Overview

• Insolvency administrator Michael Frege has filed a €92 million civil lawsuit against seven former Greensill Bank executives in the Bremen Regional Court.
• The Bremen public prosecutor's office is nearing the conclusion of its investigation into 13 suspects on charges including fraud, accounting malpractice, and deliberate insolvency.
• The collapse of Greensill Bank in 2021 left 50 German municipalities with €500 million in losses and triggered a €2.7 billion payout by private deposit insurance funds.
• Investigators allege that former managers may have intentionally caused Greensill Bank’s collapse by misrepresenting its financial position.
• In the UK, a separate damages claim has been filed against Lex Greensill, founder of Greensill Capital, as part of ongoing global legal proceedings.