LAW FIRM QUINN EMANUEL PLANS TO SUE AGAINST SWISS GOVT IN AMERICAN COURT OVER WIPING OUT OF AT1 BONDS WORTH OF $17 BILLION

Monday, 18 September 2023 09:31

"The group is being represented by Quinn Emanuel and the lawsuit could be filed by the end of the year, though it is not certain to proceed. The plans involve suing in the US where lawyers believe there is a greater chance of waiving Switzerland’s sovereign immunity rights. "

Separately, Quinn Emanuel also launched a Swiss lawsuit against regulator Financial Market Supervisory Authority (Finma) in April over its write-down decision, which was enabled by an emergency law introduced by the government in March. The US lawsuit against the Swiss government will not include the same claims made by plaintiffs in the Finma case, the report added."

SOURCE:

https://www.finews.asia/finance/40041-cs-at1-investors-plan-to-sue-switzerland

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