Credit Suisse Investors Sue Swiss Authorities Over Bond Write-Down
TL;DR
Credit Suisse bondholders, holding about $5 billion of the bank's canceled debt, have filed legal action against Switzerland's financial regulator, arguing that it violated Swiss law when it wrote down around $17 billion of bank bonds as part of UBS's rescue of the troubled bank last month. The bondholders are alleging that the total write-down was disproportionately punitive to them and violated their property rights.
- Credit Suisse Investors Challenge Switzerland’s $17 Billion Bond Write-Down The Wall Street Journal
- Credit Suisse's legal trouble continues | World Business Watch | WION
- Credit Suisse investors sue after facing billions in losses ABC News
- Credit Suisse bondholders file lawsuit against Swiss authorities CNN
- Credit Suisse bondholders sue Swiss regulator over wipe-out Reuters.com
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