FT

Bluestone Resources

16/05/2022 04:40

May 15 (Reuters) - Swiss bank Credit Suisse  CSGN.S  is
close to a settlement with West Virginia Governor Jim Justice
over the $690 million his mining company Bluestone Resources
owes the bank's clients, the Financial Times reported on Monday,
citing sources.
    The Swiss bank has been focusing on some of the loans
provided by Greensill, which imploded in March, to three
counterparties including coal miner Bluestone, for which late
payments have accrued.  urn:newsml:reuters.com:*:nL5N2OE24R
    Bluestone would step up production and make regular cash
payments to Credit Suisse under a deal between the two parties,
according https://on.ft.com/3Po1sdj to the newspaper.
    The Swiss bank will also have an option on funds raised from
a potential sale of the mines at a later date, the report said,
adding that the settlement could be signed within weeks.
    Credit Suisse and Bluestone did not immediately respond to
Reuters' requests for comment.
        

 (Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by
Aditya Soni)
 ((JaiveerSingh.Shekhawat@thomsonreuters.com;))