A case towards the Swiss Confederation was filed within the US District Courtroom for the Southern District of New York on Thursday (6 June) by litigation agency Quinn Emanuel Urquhart & Sullivan.
The case stems from Switzerland’s choice on 19 March 2023 to order a write down Credit score Suisse’s AT1 bonds. This directive, which decreased the bonds’ worth to zero, is being challenged as an illegal infringement on the property rights of the AT1 bondholders.
Holders of $1.7bn Credit score Suisse AT1 bonds sue Swiss regulator
In line with the legislation agency, Switzerland deserted its regulatory function and acted …