Group of Credit Suisse bondholders plan lawsuit against Swiss government

In the US courts for expropriation

A group of Credit Suisse bond investors is planning to sue the Swiss government in the US courts for expropriation over the losses they incurred during the state-orchestrated takeover of the bank.

People with knowledge of the matter told the FT that the investors are being represented by law firm Quinn Emanuel, which is in ongoing litigation against the parties responsible for the write-down of $17bn worth of Credit Suisse AT1 bonds in March. According to the newspaper, the firm is arranging the lawsuit against Switzerland in the US, where it believes there is a higher likelihood of convincing a judge to waive the country's sovereign immunity rights.  UBS mulls first AT1 bonds sale since Credit Suisse takeover - reports The lawsuit is centred around the Swiss government's de...