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Battle to represent Credit Suisse AT1 bondholders against Finma is on; Withers is latest firm in the fray

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Yong Hui Ting

Yong Hui Ting

Published Fri, May 5, 2023 · 08:55 PM
    • Bondholders, traditionally prioritised over shareholders, are getting back none of what they invested in the sale of Credit Suisse to UBS.
    • Bondholders, traditionally prioritised over shareholders, are getting back none of what they invested in the sale of Credit Suisse to UBS. FILE PHOTO: REUTERS

    CLOSE to 100 investors based in Singapore and countries in the region have agreed to join a class action led by a team of lawyers from Withers, over the write-down of Additional Tier-1 (AT1) bonds issued by Credit Suisse.

    More are expected to join in the coming days, the firm said on Friday (May 5).

    These investors, comprising a mix of accredited investors and high-net-worth individuals, represent an aggregated claim sum of up to S$100 million.

    BanksCredit Suisse GroupAdditional Tier 1 bonds

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