Skip to Primary Navigation

Skip to main content

Credit Suisse bondholder wipeout was unlawful, court rules

The New York headquarters of Credit Suisse stands in Manhattan on March 15, 2023 in New York City.
Photo: Spencer Platt/Getty Images

The Financial Times

2 min read
 Click to share on Facebook (Opens in new window/tab) Click to share on Twitter (Opens in new window/tab) Click to share on LinkedIn (Opens in new window/tab) Click to share on WhatsApp (Opens in new window/tab)

Watchdog did not have proper basis for decision to write down SFr16.5bn of AT1 debt as part of rescue deal, judges find.

14 October, 2025 by Mercedes Ruehl in Zurich

A Swiss court has ruled that regulators’ decision to wipe out SFr16.5bn (£15.5bn) of Credit Suisse bonds as part of a government-orchestrated rescue was unlawful but stopped short of ruling whether investors should be repaid.

The case was brought by about 3,000 investors

The

, , , , ,

Get full access, free for a month

Start your 28-day free trial to continue reading and access
all content on GRIP – no payment details required.

Start free trial Sign in

What’s included:

  • Every new article, plus our 5,000+ archive
  • Daily regulatory insight and guidance
  • Exclusive interviews and in-depth analysis
  • Coverage of industry-leading events and conferences
  • All podcasts and videos, featuring industry experts
  • The full set of Rules Navigator tools
  • An ad-free experience