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An influential group of Swiss and international investors suffering losses from the write-off of subordinated Credit bonds is taking legal action against Switzerland's financial regulator. It could be the first of a wave of lawsuits.
A group of Swiss and international investors representing over $5bn of Credit Suisse AT1 bonds have sued the Swiss regulator for the $17bn wipeout.
Credit Suisse has found itself front and centre in the courts just one month after its collapse and subsequent forced rescue by rival UBS, which involved...
A group of Credit Suisse bondholders representing billions of dollars in high-risk debt that was wiped out in the bank's rescue takeover by rival UBS are suing Switzerland's banking regulator, their lawyers said Friday.
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The investors are contesting an order by FINMA that wiped out about US$17.3-billion in higher-risk Credit Suisse bonds as part of an emergency rescue last month