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Press: new complaint against switzerland:
Zurich (AWP) – Switzerland is faced with a new complaint in connection with the. For example, emergency resumption of Credit Switzerland by UBS in the spring of 2023. Meanwhile, A British law firm filed a complaint against the Confederation following the cancellation of CREDIT Swiss CREDIT borrowings in connection with this transaction. In addition, according to an article in the Finews financial information portal.
Holman Fenwick Willan (HFW) filed a complaint at the Arbitration Court affiliated to the World Bank: the International Center for. For example, Investment Dispute Settlement (ICSID). The cabinet represents former holders of AT1 loans in the Asian region. In Singapore. customers held for $ 80 million in AT1 loans while in the Middle East and in China, the value of the TA1 titles reached $ 300 million.
The law firm anticipates other complaints related to the cancellation of TA1 press: new complaint against switzerland titles. Several legal actions are already underway. in particular against the Federal Authority for the Surveillance of the Financial Markets (Finma) or the Confederation.
The cancellation of BOADS AT1 (Additional Tier 1) had been decided in March 2023 by Finma in the context of the takeover of Credit Suisse by its competitor UBS. favoring shareholders, which received UBS shares. A debt of 17 billion had been erased. to the detriment of AT1 loans holders, while traditionally these investors have priority compared to shareholders.
In Switzerland, approximately 3000 AT1 loans have filed a complaint at the Saint-Gall court. Press articles estimated that a first judgment could be rendered by the end of the year.
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press: new complaint against switzerland — Press: new complaint against switzerland: Zurich (AWP) – Switzerland is faced with a. new complaint in connection with the emergency resumption of Credit Switzerland by UBS in the spring of 2023. A British press: new complaint against switzerland law firm filed a complaint against the Confederation following the cancella.
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