Reported 6 months ago
A group of Credit Suisse bondholders holding $82 million worth of the failed bank's AT1 debt have filed a lawsuit against Switzerland seeking compensation in a U.S. court. Following Credit Suisse's collapse in 2023 and takeover by UBS, Swiss regulators wrote down about $17 billion of AT1 bonds, causing anger among bondholders. The lawsuit, filed in the U.S. District Court for the Southern District of New York, aims to seek full compensation for the affected bondholders.
Source: YAHOO