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Us Court Rejects Action Against Switzerland for Cs Takeover
Summary by Handelszeitung
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The New York District Court has rejected the civil action brought by an investor group against the Confederation in connection with Credit Suisse's AT1 bonds for formal reasons. Switzerland is not subject to the jurisdiction of the United States due to the state-immunity.
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Handelszeitung
HandelszeitungCredit Suisse bondholders have failed in the US with a civil lawsuit against Switzerland. The competent U.S. District Court in New York has rejected their claim in the amount of 370 million US dollars.
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