This site uses cookies to provide you with a great user experience. By using BondbloX, you accept our use of cookies.
Some holders of Credit Suisse’s AT1 bonds from Singapore are seeking to sue the Swiss government regarding unique protections they should have received regarding the historic write-off. BT reports that a group of 30 investors are in talks with law firms WilmerHale and Engelin Teh Practice that the FINMA’s decision to write-off CS’s bonds breached their rights protected under the Singapore-European Free Trade Association (EFTA). As part of the $17bn write-off of Credit Suisse’s bonds to zero, its SGD-denominated S$750 5.625% Perps were also affected. As per WilmerHale partner Jonathan Lim, Singapore-based investors have certain unique protections that require “fair and equitable” treatment of foreign investors.
For more details, click here