Investors are suing the Swiss government over its handling of the takeover of Credit Suisse.
AT1 bonds, they said, can be wiped out in a so-called "Viability Event" - in this case the extraordinary liquidity support granted by the Swiss government to Credit Suisse on 19 March.
It means, in effect, that those who had bought shares got something, while those who had bought bonds got nothing. Another Asia-based bondholder who spoke to the BBC said he and his wife, who were due to retire this year, had their life savings wiped out by the decision. "I know people, sophisticated investors, who went and bought the bond," he said. "They were saying to me, 'look, this is solid, this is all kosher'.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
New claims for Pension Credit made within next two weeks could be due £301The £900 cost of living payment announced last year will be made in three instalments
Weiterlesen »
Martin Lewis issues new warning to every person with credit in energy accountMartin Lewis issues urgent warning to every person with credit on their energy bill account
Weiterlesen »
Pro tip: here's how to get $5 free credit with your next Amazon order until Mother's DayPro tip: here's how to get $5 free credit with your next Amazon order
Weiterlesen »
Martin Lewis urges people over State Pension age to check for £3,500 top-upNew claims for Pension Credit made before May 19 could also qualify for the £301 cost of living payment.
Weiterlesen »
Martin Lewis 2 week claim benefit alert to get £301 extra paymentThe DWP has said pensions credit could be worth £3,500 a year - and if people claim by May 19 they can get cost of living payment
Weiterlesen »
Carbon Capture Is Beginning To Take Off | OilPrice.comCarbon capture projects and carbon removal credits have received new impetus with major government support over the past year as part of the solutions to cut greenhouse gas emissions and put the world on track to reach the Paris Agreement targets.
Weiterlesen »