“It’s a severe blow for the entire market segment”: The CS deal has consequences for the bond market – and for “too big to fail”
Creditors of CS convertible bonds have lost 16 billion Swiss francs. This has legal, economic and political implications.
A deal for the history books: UBS buys Credit Suisse with state aid – sealed by CS President Axel Lehmann, UBS President Colm Kelleher, Federal President Alain Berset and Finance Minister Karin Keller-Sutter (from left).
Fabrice Coffrini / AFP
The 16 billion Swiss franc question was lost in the hustle and bustle surrounding the rescue of Credit Suisse. But it is far from being answered. And she can’t be shelved either – in view of the impending lawsuits. Anglo-Saxon law firms are sharpening their knives, and in Switzerland too, lawyers are calling on the victims to take action. One of these law firms is Keppeler Avocats from Geneva, which also includes the former Central National Councilor Guillaume Barazzone.
