AT1 $16B WORTH OF BONDS OF CREDIT SUISSE AND FINMA DECISION TO WRITE OFF IS CHALLENGE IN COURT

"AT1 investors scored a victory in May when the court ordered the publication of Finma orders writing down the AT bonds worth about $16 billion."
"Accessing those documents is key for bondholders who have borne the brunt of this unprecedented and unacceptable FINMA's order,» said lawyer Dario Item of Lugano-based law firm I&P, which represents a group of AT1 investors. A decision could come in the coming weeks.
"In March, Finma ordered Credit Suisse to completely write off the high-interest AT1 bonds as part of UBS's emergency takeover of the troubled bank, rendering them worthless. By August, lawsuits had been filed on behalf of around 3,000 aggrieved parties against the Finma decision."

SOURCE:

https://www.finews.com/news/english-news/59567-cs-at1-finma-communicatio-ubs-credit-suisses

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