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Asian investors, including over 500 from Singapore, Japan, and Hong Kong, have launched the largest lawsuit against Switzerland under an investment protection agreement, seeking more than CHF 226 million in damages after the cancellation of Credit Suisse's AT1 bonds during UBS's emergency takeover. They argue that Switzerland breached its obligations by declaring these bonds worthless, prompting arbitration proceedings. The law firm Drew & Napier is encouraging other affected investors to join the claim, with negotiations set to begin within six months.
More than 500 investors from Singapore, Japan, and Hong Kong have initiated legal proceedings against Switzerland, claiming around US$250 million after their Credit Suisse AT1 bonds were cancelled during UBS's emergency takeover. They allege that Switzerland violated investment treaty obligations by unilaterally writing down the bonds' value to zero, prompting a wave of complaints. The investors are now in the negotiation phase, seeking to resolve the dispute amicably before potentially moving to arbitration.
More than 500 investors from Singapore, Japan, and Hong Kong are suing Switzerland over losses from cancelled AT1 bonds following UBS's takeover of Credit Suisse. They claim around $250 million, alleging Switzerland breached investment treaty obligations by unilaterally writing down the bonds to zero. The investors have initiated the first step towards arbitration by submitting trigger letters under various bilateral investment treaties.
Over 500 Asian investors, including those from Singapore, Japan, and Hong Kong, are suing Switzerland for approximately $250 million after the value of their Credit Suisse AT1 bonds was wiped out during UBS's takeover of the bank. The investors allege that the Swiss government violated bilateral investment treaties by not protecting their rights, as the bonds were zeroed out despite expectations of conversion to shares. Arbitration proceedings are set to begin, with negotiations planned over the next six months to seek an amicable resolution.
More than 500 investors from Singapore, Japan, and Hong Kong are pursuing claims against Switzerland for losses incurred from the writedown of $17 billion in Credit Suisse bonds, which became worthless after UBS's $3.25 billion takeover of the bank. The investors allege that Switzerland violated investment treaty obligations, seeking around $250 million in damages, marking the largest claim against the country in treaty arbitration to date. Negotiations are set to take place over the next six months, with additional claims anticipated from investors in other jurisdictions.
More than 500 investors from Singapore, Japan, and Hong Kong are pursuing a claims process against Switzerland, seeking $250 million in compensation after Credit Suisse bonds were written down to zero. They allege that Switzerland violated investment treaty obligations by unilaterally canceling Additional Tier 1 bonds during UBS's emergency buyout of Credit Suisse. Negotiations are set to begin, with calls for other Asian investors to join the proceedings.
Aggrieved Asian investors, including over 500 from Singapore, Japan, and Hong Kong, have launched the largest claim against Switzerland in treaty arbitration, seeking over CHF 226 million in damages after the cancellation of Credit Suisse AT1 bonds during UBS's emergency takeover. They argue that Switzerland violated investment treaty obligations by unilaterally nullifying these bonds, which were written down to zero, prompting a wave of complaints. The investors are now in the negotiation phase, aiming for an amicable resolution before potentially proceeding to arbitration.
Over 500 investors from Singapore, Japan, and Hong Kong have launched legal proceedings against Switzerland, seeking $250 million in compensation after their Credit Suisse AT1 bonds were rendered worthless during UBS's emergency takeover of the bank. The claim, described as the largest in treaty arbitration against Switzerland, alleges a breach of investment treaty obligations following the unilateral cancellation of the bonds. The investors are now entering a six-month negotiation period to resolve the dispute amicably, with additional claims anticipated from affected investors in Thailand and the Philippines.
More than 500 investors from Singapore, Japan, and Hong Kong are pursuing a $250 million claim against Switzerland, alleging violations of investment treaty obligations following the write-down of Credit Suisse bonds. The investors argue that Switzerland's actions, which rendered these bonds worthless to facilitate UBS's takeover, breached their rights. Negotiations are set to begin, with calls for other affected investors to join the proceedings.
Mahesh Rai
People
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Asian investors file record lawsuit against Switzerland over Credit Suisse bonds
United States Dollar
Swiss Franc
Credit Suisse High Yield Bond Fund, Inc.
Omni Bridgeway Ltd.
JPN
HKG
SGP
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11:27 07.02.2025
Asian investors file largest claim against Switzerland over Credit Suisse bond losses
United States Dollar
Swiss Franc
Credit Suisse High Yield Bond Fund, Inc.
FinMan Gestion",
CHE
JPN
SGP
HKG
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18:17 06.02.2025
asian investors file largest claim against switzerland over credit suisse bond losses
United States Dollar
Swiss Franc
Omni Bridgeway Ltd.
Credit Suisse High Yield Bond Fund, Inc.
JPN
HKG
SGP
CHE
PHL
THA
Mahesh Rai
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16:47 06.02.2025
asian investors sue switzerland over credit suisse bond write-offs
Swiss Franc
Credit Suisse High Yield Bond Fund, Inc.
Omni Bridgeway Ltd.
CHE
JPN
SGP
HKG
Mahesh Rai
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15:09 06.02.2025
investors file claims against switzerland over credit suisse bond writedown
14:33 06.02.2025
Asian investors seek 250 million dollars from Switzerland over Credit Suisse losses
United States Dollar
Credit Suisse High Yield Bond Fund, Inc.
JPN
HKG
SGP
PHL
THA
Mahesh Rai
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13:46 06.02.2025
Asian investors launch record claim against Switzerland over Credit Suisse bonds
United States Dollar
Swiss Franc
Credit Suisse High Yield Bond Fund, Inc.
JPN
HKG
SGP
PHL
THA
CHE
Mahesh Rai
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13:36 06.02.2025
Asian investors file largest claim against Switzerland over Credit Suisse bond losses
United States Dollar
Swiss Franc
Credit Suisse High Yield Bond Fund, Inc.
FinMan Gestion",
CHE
JPN
SGP
HKG
Mahesh Rai
Show more
13:14 06.02.2025
Asian investors launch historic claim against Switzerland over Credit Suisse bond losses
United States Dollar
Credit Suisse High Yield Bond Fund, Inc.
JPN
HKG
SGP
PHL
THA
Mahesh Rai
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13:04 06.02.2025
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