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Credit Suisse bond holders in Singapore seek to sue Swiss government over worthless investments
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The recent forced takeover of Credit Suisse triggered a write-down of the Swiss bank’s additional tier 1 or AT1 bonds.
ST PHOTO: LIM YAOHUI
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SINGAPORE - About 30 investors in Singapore are seeking to sue the Swiss government over what they say is an unfair wipeout of their bonds during the recent forced takeover of Credit Suisse.
The troubled Swiss bank was acquired by rival UBS in March in a deal brokered by the Swiss government that triggered a write-down of the bank’s additional tier 1 or AT1 bonds.
