When SoftBank made a last ditch-infusion of $440m into Greensill Capital last November, the money was earmarked to pay off investors in Credit Suisse investment funds, according to people familiar with the deal.

But the cash never made it to the Swiss bank. Greensill put the money into its own German banking unit instead, according to a report released Thursday from the bankruptcy administrators for Greensill’s Australian parent company and some of the people familiar with the deal.