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.