_credit-suisse-bondholders-sue-swiss-government-seek-full-compensation-over-3617-billion-debt-write-down.jpg "Credit Suisse Bondholders Sue Swiss Government Seek Full Compensation Over $17 Billion Debt Write-Down from 10 18 17 19 10 12 16 13 18 12 18 16 17 14 10 15 10 19 10 19 14 17 14 11 17 1獺3 12 19 17 1獺11瞻71瞻7 16 18 14 17 10 10 16 18 13 16 19 17 18 11 18 11 14 14 11 15 Video Screenshot Preview")
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⏲ Duration: 0:40
👁 View: 340K times
✓ Published: 08-Jun-2024
👁 View: 340K times
✓ Published: 08-Jun-2024
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A group of Credit Suisse bondholders have filed a lawsuit against the Swiss government seeking full compensation over the decision to write down $17 billion of the bank's Additional Tier 1 debt. The AT1 debt write-down occurred as part of Credit Suisse's emergency sale to UBS last year, which was orchestrated by Swiss authorities. Swiss regulator Finma wiped out the $17 billion in AT1 bonds, writing them down to zero, while common shareholders received payouts. The bondholders argue this decision violated the usual European hierarchy of restitution for bank failures and unjustly violated their property rights.
A group of Credit Suisse bondholders have filed a lawsuit against the Swiss government seeking full compensation over the decision to write down $17 billion of the bank's Additional Tier 1 debt. The AT1 debt write-down occurred as part of Credit Suisse's emergency sale to UBS last year, which was orchestrated by Swiss authorities. Swiss regulator Finma wiped out the $17 billion in AT1 bonds, writing them down to zero, while common shareholders received payouts. The bondholders argue this decision violated the usual European hierarchy of restitution for bank failures and unjustly violated their property rights.
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