The Business Times
business-time-50
SUBSCRIBERS

WongPartnership in talks with over 40 Credit Suisse AT1 bondholders to launch new suit

google-preferred-sourceAdd BT as a preferred source
Yong Hui Ting

Yong Hui Ting

Published Tue, May 30, 2023 · 03:32 PM
    • The latest move adds to a growing number of legal actions in Singapore against the Swiss government.
    • The latest move adds to a growing number of legal actions in Singapore against the Swiss government. PHOTO: BLOOMBERG

    LAW firm WongPartnership is in talks with more than 40 holders of Credit Suisse Additional Tier-1 (AT1) bonds, to represent them in a collective action against the Swiss government.

    They are seeking to bring forth an “investor treaty case”, which argues that the Swiss government’s decision to write off the bonds breached agreed-upon protections afforded to Singapore investors under the EFTA-Singapore Free Trade Agreement.

    Short for the European Free Trade Association, EFTA is a group of countries comprising Switzerland, Iceland, Liechtenstein and Norway.

    credit suisseCredit Suisse GroupAdditional Tier 1 bonds

    TRENDING NOW

    The departure of food manufacturing operations from Singapore may not necessarily be reason for concern.

    Yeo’s, Tiger Beer and now Gardenia – flight of food manufacturing from Singapore might be just as planned

    The bungalow's transacted price works out to about S$3,169 psf on the freehold land area of 23,979 sq ft.

    Shanda co-founder sells Tanglin Hill bungalow for S$76 million

    Beyond structural portfolio shifts, the study highlighted paradoxes regarding intergenerational wealth planning and succession.

    Nearly half of Apac’s wealthy expect market crash or correction, plan to rotate to cash: study

    Jumbo Group says its landlord, the National Parks Board, is studying the redevelopment of East Coast Seafood Centre in tandem with longer-term plans for the park.

    Jumbo Seafood to close flagship East Coast Seafood Centre outlet on Sep 30

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More