Credit Suisse Wins Nod to Seek Liquidation of Gupta Firms (2)

Credit Suisse Group AG won the green light to pursue its court battle against companies controlled by Sanjeev Gupta’s GFG Alliance, in a dispute over more than a billion dollars in debts to the bank.

A London judge said that the Swiss lender’s attempt to wind up three of Gupta’s firms can proceed, saying the GFG companies couldn’t rely on rules designed to protect companies during the coronavirus pandemic. A winding up petition is a process akin to a liquidation.

“The demands made on the companies over a year ago have not been met,” Judge Nicholas Briggs said ...