Credit Suisse AT1 bondholders force Swiss regulator to hand over wipeout decree - reports

Valeria Martinez
clock • 2 min read

Holders of Credit Suisse AT1 bonds have forced the Swiss regulator to hand over the decree that ordered the wipeout of $17bn of the bank's riskiest bonds.  A group of Swiss and international investors representing over CHF 4.5bn ($5bn) of Credit Suisse AT1 bonds sued the Swiss Financial Market Supervisory Authority (FINMA) on 18 April for the wipeout that followed the bank's acquisition by rival UBS in March. According to a report by the Financial Times, the investors and Quinn Emmanuel, the law firm representing them, launched the claim largely in the dark due to the regulator's secr...

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