Over 500 investors, including 300 Singaporeans, kick off claim against Switzerland over Credit Suisse bond losses of over US$250 million
Drew & Napier is leading action by investors who saw their investments wiped out when CS AT1 bonds were written down as part of takeover by UBS
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MORE than 500 investors have started their claims process against Switzerland for its forced write-down of Credit Suisse’s Additional Tier 1 (AT1) bonds in March 2023, said Singapore law firm Drew & Napier.
The investors, around 300 of whom are Singaporeans, are claiming losses amounting to about US$250 million, said Drew & Napier in a statement.
The law firm is leading an action against the Swiss government, to recover investors’ losses from the write-down arising from UBS’ takeover of Credit Suisse.
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