Hong Kong investors will claim the wipeout of Credit Suisse AT1 bonds was at odds with a bilateral investment treaty between Hong Kong and Switzerland.
September 8, 2023At least one Japanese investor was told around fall last year that Credit Suisse AT1 bonds were safer than stock.
August 5, 2023The SNB says Credit Suisse AT1 bonds should have been wiped out earlier, and that a review of the too-big-to-fail framework is needed.
June 23, 2023UBS has meanwhile finalised a guarantee agreement with the Swiss government and is now expected to close its Credit Suisse acquisition on Monday (12 June).
June 12, 2023Some Credit Suisse bankers had their bonus awards based on AT1 bonds, which were wiped out in the government-orchestrated rescue in March.
June 5, 2023The EMEA Credit Derivatives Determination Committee was asked to rule on whether the Credit Suisse takeover should trigger insurance payouts on bonds.
May 18, 2023The suit means that investors representing up to a third of the $17bn in AT1 bonds issued by Credit Suisse have now launched legal action.
May 4, 2023UBS is expected to record up to $57bn in profits in Q2 as a result of the deal, the largest ever banking profit recorded.
April 28, 2023Investors representing over $5bn of Credit Suisse AT1 bonds are seeking redress for the losses they suffered during the takeover by UBS.
April 23, 2023Lawyers for Singapore investors are preparing to argue that the Swiss government's decision to write off Credit Suisse AT1 bonds violated a free trade agreement.
April 21, 2023