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Swiss Court Rules $20 Billion Credit Suisse Bond Write-Off Unlawful
The court ruled FINMA’s 16.5 billion franc AT1 bond write-off lacked legal basis, supporting investors who challenged the emergency Credit Suisse rescue in 2023.
Summary by Ground News
25 Articles
25 Articles
The Swiss federal court has decided the first case over Credit Suisse's state rescue. 'Transactions without legal bases', savings betrayed
·Milan, Italy
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Bond write-off in Credit Suisse rescue unlawful
The Swiss authorities' 2023 decision to write off 16.5 billion Swiss francs ($20.53 billion) in Credit Suisse bonds was unlawful, a court said today, raising fresh questions about how the bank's rescue and subsequent takeover by UBS was handled.
·Ireland
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The billions write-off of CS bonds in the emergency rescue of Credit Suisse had no legal basis. The court cancels the order of the Financial Market Supervisory Authority (Finma) in a procedure.
·Zürich, Switzerland
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Total News Sources25
Leaning Left3Leaning Right3Center2Last UpdatedBias Distribution38% Left, 37% Right
Bias Distribution
- 38% of the sources lean Left, 37% of the sources lean Right
38% Left
L 38%
C 25%
R 37%
Factuality
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