Credit Suisse sued by Mozambique in London courts over debt deals

Pedro Gonçalves
clock • 1 min read

Mozambique sued Credit Suisse AG in UK court this week over the bank's involvement in the $2bn "tuna bond" scandal. Credit Suisse was one of the lenders that helped to arrange $2bn (£1.5bn) of government-backed loans that pushed Mozambique into a debt crisis. Also named in the filing are three former Credit Suisse bankers, who have already been indicted in the US. The loans, taken out between 2013 and 2016, were marketed as investments in schemes including maritime security projects and a state tuna fishery. But a proportion of the money has not been accounted for and the allegations ...

To continue reading this article...

Join International Investment

Join International Investment today

Unlock members-only benefits:

  • Unlimited access to real-time news, industry insights, video features and market intelligence
  • Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
  • Members-only access to the Editor’s weekly news roundup newsletter
  • Members-only access to analysis via our exclusive industry polls
  • Be the first to hear about our events and awards programmes

Join now


Already a International Investment member?