24/7 Cryptocurrency News

Breaking: Credit Suisse AT1 Bondholders Sue Switzerland’s FINMA

A a group of bondholders united to sue Credit Suisse demanding compensation for their loss, in a fresh lawsuit against the Swiss regulator.
Published by
Breaking: Credit Suisse AT1 Bondholders Sue Switzerland’s FINMA

A fresh lawsuit against the Swiss Financial Market Supervisory Authority (FINMA) over the writing down of $17 billion worth Credit Suisse issued Additional Tier 1 (AT1) bonds was filed on Monday. As part of the emergency rescue deal involving acquisition of Credit Suisse by UBS, the AT1 bonds were written down. Essentially, the bondholders argue that FINMA unlawfully gave preference to shareholders over AT1 bondholders. At the back of a catastrophic US regional banking crisis, the Credit Suisse UBS merger came as a major relief for the European markets.

Also Read: Dubai Authorities Serve Notice To OPNX Cofounder Su Zhu, Others

On March 19, 2923, CoinGape reported that distressed investors were planning to sue the Swiss government over the bank’s emergency ordnance. As part of the overall deal, UBS came forward to pay $3.25 billion to shareholders, while the AT1 bonds worth $17 billion were written down.

Advertisement

Credit Suisse AT1 Bondholders Go Legal Route

In the latest lawsuit, a group of bondholders united to sue Credit Suisse demanding compensation for their loss. A law firm names Pallas is overseeing the lawsuit, which involves 90 institutional investors and asset managers and 700 retail and family offices, a Financial Times report said. Meanwhile, the US bank stocks responded positively to the news of JP Morgan acquiring troubled institution First Republic Bank, on the back of the collapse of Silvergate and the Silicon Valley Bank in the United States.

Also Read: Crypto Crash Imminent? US Risks Running Out Of Cash Amid Banking Crisis

Share
Anvesh Reddy

Anvesh reports major crypto updates around U.S. regulation and market moving trends. Published over 1400 articles so far on crypto and blockchain. A proud dropout of University of Massachusetts, Lowell. Can be reached at anvesh@coingape.com or x.com/BitcoinReddy or linkedin.com/in/anveshreddybtc/

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • 24/7 Cryptocurrency News

Ethena Labs Secures Fresh Funding From ArkStream Capital, ENA Price Spikes

Ethena Labs has secured fresh funding from ArkStream Capital as it expands its ecosystem in…

September 6, 2025
  • 24/7 Cryptocurrency News

SEC Forms International Task Force to Crack Down on Pump-and-Dump Schemes

The U.S. Securities and Exchange Commission has launched a task force designed to tackle cross-border…

September 6, 2025
  • 24/7 Cryptocurrency News

Justin Sun Pledges $20M Buy Following WLFI Wallet Freeze

Justin Sun Justin Justin Sun responded to World Liberty Financial freezing his wallet by promising…

September 6, 2025
  • 24/7 Cryptocurrency News

Expert Blames ‘Secret Committee’ for Rejecting MSTR Stock Inclusion to S&P 500

Michael Saylor's Strategy (NASDAQ: MSTR) missed the inclusion in the S&P 500 index on Friday,…

September 6, 2025
  • 24/7 Cryptocurrency News

MARA Bitcoin Treasury Nears $6 Billion, Trails Only Strategy in Public Rankings

MARA Holdings, Inc. announced that it now holds $5.9 billion worth of Bitcoin. This cements…

September 6, 2025
  • 24/7 Cryptocurrency News

Senate Banking Committee Releases Updated Draft Crypto Market Structure Bill

The U.S. Senate Banking Committee has released an updated version of the draft Crypto Market…

September 6, 2025