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Drew & Napier to sue Swiss govt over Asia losses on Credit Suisse ATI bonds
The Straits Times
|October 21, 2025
One of Singapore’s biggest law firms is set to file claims against the Swiss government by the end of 2025, seeking compensation for hundreds of Asian bond holders of Credit Suisse additional tier 1 (AT1) debt that was wiped out in 2023.
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Drew & Napier plans to go ahead with so-called investment treaty claims for Japanese bond holders first, followed by Hong Kong and Singapore investors, according to a director at the firm that is representing about 560 bond holders from the three jurisdictions.
A court decision in Switzerland that the write-down of the Credit Suisse AT] bonds was unlawful is the “first step in righting the wrong done to our clients”, said Mr Mahesh Rai, who is working on the case that will seek to recover losses that had amounted to about US$300 million ($388.5 million) from the Swiss government.
This story is from the October 21, 2025 edition of The Straits Times.
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