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AllianceBernstein is preparing to sue Switzerland for $225 million following UBS's takeover of Credit Suisse, which resulted in the erasure of $17 billion in debt. The asset manager will join a lawsuit initiated by law firm Quinn Emanuel on behalf of Credit Suisse bondholders. This legal action comes after Swiss regulators wrote down approximately $17 billion of Credit Suisse's Additional Tier 1 debt, prompting anger among bondholders.
AllianceBernstein is preparing to sue Switzerland for $225 million following UBS's takeover of Credit Suisse, which resulted in the erasure of $17 billion in the bank's debt. The asset manager will join a lawsuit initiated by Credit Suisse bondholders against the Swiss government. This legal action stems from the significant write-down of Credit Suisse's Additional Tier 1 debt by Swiss regulators during the bank's collapse and subsequent acquisition.
AllianceBernstein plans to sue Switzerland for $225 million following UBS's acquisition of Credit Suisse, which resulted in the cancellation of $17 billion in the bank's debt. The asset manager will join a lawsuit initiated by bondholders of Credit Suisse's Additional Tier 1 debt. This legal action stems from the Swiss regulator's decision to write down the debt, which has sparked significant backlash among investors.
U.S. asset manager AllianceBernstein is set to sue Switzerland for $225 million following the government's decision to eliminate $17 billion in debt during the takeover of Credit Suisse by UBS last year. The lawsuit highlights the financial repercussions of the controversial move.
Jochen Sengpiehl, Volkswagen's China chief marketing officer, has been deported to Germany after being detained for approximately 10 days. He reportedly tested positive for drugs following a holiday abroad. The company is conducting an internal review as it faces declining demand in the Chinese market, with deliveries down 15% in the third quarter.
Angela Christy
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06:59 10.12.2024
06:59 10.12.2024
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AllianceBernstein Holding L.P.
FinMan Gestion",
Quinn Emanuel Urquhart & Sullivan LLP
Credit Suisse Real Estate Fund Siat
CHE
Varun H.k
Angela Christy
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06:13 10.12.2024
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06:11 10.12.2024
21:08 22.10.2024
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