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Bidzina Ivanishvili, founder of Georgia's ruling party, is suing Swiss bank Julius Baer for failing to fulfill obligations and for restricting access to information about hedge fund accounts. His lawyer claims the bank's actions suggest political blackmail, as Ivanishvili has faced ongoing disputes with Credit Suisse and related entities for nearly a decade. The relationship has worsened, with the bank allegedly threatening to close Ivanishvili's account due to his political activity and misinterpreting U.S. sanctions against him.
Bidzina Ivanishvili, the Georgian billionaire and former prime minister, is suing Bank Julius Baer, claiming "political blackmail" after the bank threatened to close his accounts due to his status as a politically exposed person (PEP). His lawyer alleges the bank withheld account information related to hedge fund investments and misinterpreted US sanctions against him. Ivanishvili seeks legal action to enforce the bank's obligations and obtain compensation.
Bidzina Ivanishvili, the de facto ruler of Georgia, has filed a lawsuit against Swiss bank Julius Baer, alleging political blackmail after the bank extended U.S. sanctions to his family and companies. The relationship soured following issues with hedge funds and delays in accessing account information. Ivanishvili claims the bank's actions are part of a concerted effort to harm his interests, prompting him to seek legal remedies for damages.
Bidzina Ivanishvili plans to sue Swiss bank Julius Baer for alleged "political blackmail," claiming the bank threatened to close his personal account due to his political status. His lawyer, Lasha Kalandadze, argues that the bank misinterpreted U.S. sanctions and demands damages. Additionally, a civil lawsuit will be filed against Credit Suisse for compensation related to previous disputes.
Lasha Kalandadze
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georgian party founder sues julius baer over alleged financial misconduct
Credit Suisse High Yield Bond Fund, Inc.
Julius Bär Gruppe AG
CHE
BMU
SGP
Lasha Kalandadze
Bidzina Ivanishvili
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10:03 23.01.2025
Bidzina Ivanishvili to sue Julius Baer over account closure threats
United States Dollar
Credit Suisse High Yield Bond Fund, Inc.
BMU
SGP
CHE
Lasha Kalandadze
Bidzina Ivanishvili
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07:25 23.01.2025
ivanishvili files lawsuit against swiss bank amid escalating sanctions and disputes
Credit Suisse Real Estate Fund Siat
Julius Bär Gruppe AG
USA
SGP
CHE
BMU
GBR
Lasha Kalandadze
Bidzina Ivanishvili
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13:26 20.01.2025
ivanishvili plans lawsuit against julius baer for alleged political blackmail
United States Dollar
Credit Suisse Real Estate Fund Siat
Julius Bär Gruppe AG
CHE
Antony Blinken
Lasha Kalandadze
Mamuka Mdinaradze
Bidzina Ivanishvili
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12:20 20.01.2025
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