Sanjeev Gupta’s GFG Alliance faces bankruptcy fight after Credit Suisse leaves the table May 10, 2022 Sanjeev Gupta’s GFG Alliance faces the prospect of bankruptcy after its main creditor, Credit Suisse, exited negotiations with the steel business over repayment of its debts. GFG Alliance is set to face an insolvency hearing next week after Credit Suisse, pulled out of settlement negotiations, the Financial Times first reported. Under UK laws, creditors can [...]
Credit Suisse readies £350m claim against Softbank over Katerra collapse May 8, 2022 Embattled lender Credit Suisse is reportedly readying a £350m claim against SoftBank over the bankruptcy of US construction firm Katerra, which imploded after supply chain finance firm Greensill Capital collapsed last year.
Credit Suisse sued over links with Russian oligarchs May 3, 2022 New York law firm Pomerantz has filed a class action lawsuit against Credit Suisse, over claims the Swiss bank misled investors as to its dealings with Russian oligarchs. The lawsuit comes after shares in Credit Suisse dropped 2.58 per cent on 28 March, in response to reports claiming the investment bank has carried out extensive [...]
Scandal-stricken Credit Suisse poised for management shakeup April 24, 2022 Beleaguered bank Credit Suisse is lining up a management shakeup as new chairman Axel Lehmann looks to put the lender back on track following a string of scandals.
Credit Suisse asks investors to ‘permanently erase’ documents linked to oligarch loans March 2, 2022 Credit Suisse has issued a legal request to investors asking them to “destroy and permanently erase” documents relating to its clients’ private jets and yachts, as it looks to prevent leaks of its dealings with now-sanctioned Russian oligarchs.
Credit Suisse to force bankers to repay some of bonuses if they exit within three years January 28, 2022 Investment bank Credit Suisse has told staff they will be forced to repay some of their bonuses if they exit the company within three years. According to The Telegraph newspaper, bankers were told today about plans for a new system for bonuses. It comes after the company’s chairman Sir Antonio Horta-Osorio was forced to step [...]
Credit Suisse beats investment banker in London court as £66m espionage case is thrown out January 26, 2022 A former Credit Suisse banker’s £66m lawsuit was rejected yesterday afternoon as a London court found that the banking giant was under no obligation to protect its former employee from the risk of criminal charges while he was working in Romania. Vadim Benyatov had demanded $89m, or nearly £66m, in lost earnings after a court [...]
Banking star and former Lloyds chief Antonio Horta-Osorio resigns at Credit Suisse after damning probe into personal actions January 17, 2022 Well-known global banker Antonio Horta-Osorio, the former boss of Lloyds Banking Group, has resigned as chairman of Credit Suisse after less than 12 months following an investigation into his personal actions. Antonio Horta-Osorio, who steered lending giant Lloyds back into private ownership after its 2008 financial crisis bailout, said in a statement issued by Credit [...]
Credit Suisse chairman under fire for breaking Covid rules January 8, 2022 Credit Suisse Chairman Antonio Horta-Osorio comes under fire from the bank's board after an internal investigation found he breached coronavirus rules a second time, Tages-Anzeiger newspaper reported this morning.
Credit Suisse investigation reveals chairman broke Covid rules twice December 31, 2021 António Horta-Osório is under investigation by Credit Suisse after reportedly breaking Covid quarantine rules for the second time, in order to watch a Wimbledon tennis match in the summer. Horta-Osorio, who joined Credit Suisse from Lloyds in April, has previously called the scandals faced by Credit Suisse, including the $5.4bn loss from the collapse of [...]