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AllianceBernstein Sues Switzerland Over Credit Suisse AT1 Bond Write-Offs
AllianceBernstein is suing the Swiss state for $225 million over the write-down of Credit Suisse's AT1 bonds, which were reduced to zero as part of UBS's takeover. This lawsuit, joining a class action by bondholders, claims unlawful interference with property rights, raising total claims to $375 million. The Swiss government argues it has immunity from the lawsuit, seeking to dismiss the case.
AllianceBernstein sues Switzerland over Credit Suisse bond write-offs
AllianceBernstein is suing the Swiss state for $225 million following the write-down of Credit Suisse's AT1 bonds, which amounted to CHF 16 billion. This lawsuit, part of a class action with other bondholders, claims unlawful interference with property rights. The Swiss government argues it has immunity from the lawsuit, seeking dismissal in court.
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