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Peter Spuhler has initiated debt enforcement proceedings against Pierin Vincenz, the former Raiffeisen boss, over a CHF 6.4 million loan for a luxury villa in Teufen. Vincenz has not paid interest since late 2022, prompting Spuhler to pursue a forced sale of the property, which has been on the market since summer 2022 without any buyers. The liquidation process could begin as early as December, with a potential sale completed by early 2025.
The Zurich High Court has dismissed complaints against prosecutors in the ongoing case of former Raiffeisen boss Pierin Vincenz, ruling they were not biased despite the involvement of external experts in the indictment review. Vincenz and co-defendants can still appeal to the Federal Supreme Court, following a previous ruling that found serious flaws in the lengthy indictment. The case revolves around allegations that the accused secretly invested in companies, profiting from Raiffeisen Group"s subsequent acquisitions.
The Zurich Supreme Court ruled that prosecutors in the Pierin Vincenz case were not biased, rejecting defense appeals for disqualification. Vincenz, former Raiffeisen boss, was previously sentenced for disloyal management and breach of trust, with the Supreme Court ordering improvements to the flawed indictment before a new trial.
The Zurich High Court has rejected a recusal request against public prosecutors in the Pierin Vincenz case, finding no bias despite complaints regarding the consultation of external experts on the indictment. Vincenz and co-defendants can appeal this decision to the Federal Supreme Court. The case has faced significant delays due to procedural errors in the initial indictment, which the High Court previously overturned, requiring the public prosecutor's office to revise it before a new trial can commence.
The Zurich High Court has rejected Pierin Vincenz"s appeal, affirming that prosecutors in his fraud trial were not biased, despite his claims regarding the use of external experts for the indictment. Vincenz and co-defendants can still appeal to the Federal Supreme Court, as the decision is not yet legally binding. The case, which involves allegations of secret investments and profits from Raiffeisenbank acquisitions, has faced significant procedural issues, leading to a lengthy legal process ahead.
Moody's has upgraded the Raiffeisen Group's long-term deposit rating to "Aa2" from "Aa3," reflecting improved capital quality and financial strength. The outlook for long-term deposit ratings is now stable, while the outlook for bond ratings remains positive, supported by the bank's diversification into corporate loans and wealth management activities.
Moody"s has upgraded the Raiffeisen Group"s long-term deposit rating to "Aa2" from "Aa3" and raised its long-term unsecured debt rating to A2 from A3, reflecting improved capital quality and financial strength. The outlook for long-term deposit ratings is now "stable," while bond ratings maintain a positive outlook. The upgrade highlights the Group"s efforts to diversify income sources, reducing reliance on mortgage income and enhancing stability against potential interest rate declines in Switzerland.
Moody's has upgraded the Raiffeisen Group's long-term deposit rating to "Aa2" from "Aa3," reflecting improved capital quality and financial strength. The outlook for long-term deposit ratings is now stable, while bond ratings maintain a positive outlook, supported by the bank's diversification into corporate loans and wealth management activities.
Moody"s has upgraded Raiffeisen Group"s long-term deposit rating to "Aa2" from "Aa3," reversing a previous downgrade from 2018. The outlook is now "positive," reflecting strong capital quality and profitability, despite risks in the Swiss real estate market. Additionally, long-term senior unsecured ratings have been raised to A2 from A3, supported by the formation of bail-in capital.
Pierin Vincenz
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