AllianceBernstein, a well-known asset manager based in the US, is preparing to file a lawsuit against the Swiss government, seeking $225 million in damages.

This legal action is a result of the controversial decision made by the Swiss government to eliminate $17 billion in Credit Suisse debt after approving UBS's acquisition of Credit Suisse last year.

The law firm Quinn Emanuel Urquhart & Sullivan is handling the lawsuit on behalf of Credit Suisse bondholders.

AllianceBernstein, which manages assets worth over $800 billion, is the first major asset manager to join this claim, underscoring the significant financial consequences of the government's actions in the banking industry.