Credit Suisse in Court With Gupta After Debt Talks Stall (1)

Credit Suisse Group AG is heading for a court battle with Sanjeev Gupta’s GFG Alliance after talks over more than a billion dollars in debts to the bank stalled.

In London on Tuesday the court hearing between the steel magnate and the Swiss bank that’s been delayed by a nearly a year will take place. At stake is a large swathe of the tycoon’s metals empire, which is heavily indebted to Credit Suisse and could be wound up.

Negotiations between Credit Suisse and GFG for a broader restructuring of its U.K. and U.S. debts have since broken down, according to ...