Hugo Miller

Die Schweizer Bankenaufsicht erachtete die Credit Suisse Group AG im vergangenen Jahr noch als ausreichend vorbereitet für eine Krisensituation. Die Bedingungen dafür, die Bank geordnet zu sanieren oder aus dem Markt ausscheiden zu lassen, seien gegeben gewesen, schreibt die Finma in einem am Mittwoch veröffentlichten Bericht — einen Monat nachdem die Notübernahme durch die UBS Group AG erforderlich wurde.

Hundreds more Credit Suisse Group AG bondholders sued Switzerland’s banking regulator after their securities valued at about $1.7 billion were wiped out during the lender’s government-brokered takeover by UBS Group AG.

Hundreds more Credit Suisse Group AG bondholders sued Switzerland's banking regulator after their securities valued at about $1.7 billion were wiped out

Hundreds more Credit Suisse Group AG bondholders sued Switzerland’s banking regulator after their securities valued at about $1.7 billion were wiped out during the lender’s government-brokered takeover by UBS Group AG.

When UBS Group AG integrates Credit Suisse Group AG in the coming months, the Swiss bank plans to run staff from the scandal-prone former rival through what Chairman Colm Kelleher dubbed a “culture filter” to weed out potential bad apples.

Six weeks since the deal to rescue Credit Suisse Group AG was rushed through, at least 120 claims have been filed against the Swiss banking watchdog’s decision to wipe out about $18 billion worth of its high-risk bonds as part of the deal.

Credit Suisse Group AG withdrew an appeal over the writedown of AT1 bonds by Switzerland’s banking regulator, a Swiss court said.

A Credit Suisse Group AG unit has been ordered by a Singapore court to compensate billionaire Bidzina Ivanishvili for what may well be hundreds of millions of dollars, in yet another setback for the bank in its legal battle with the Georgian tycoon.

The ruling from the Singaporean judge comes shortly before UBS is expected to complete a takeover of its Swiss rival.

About 50 Credit Suisse Group AG bankers are suing Switzerland’s financial regulator for rendering their bond-based bonuses worthless as part of the stricken lender’s state-brokered takeover by UBS Group AG.