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According to the FT, this is because the Mozambican government has not released the documents. The lawsuit concerns CS’ role in arranging more than $2 billion in loans and loans to the African country, along with the construction of a tuna fishing fleet that has to be paid for.
However, the funds were apparently “misused” on a large scale. With the takeover of Credit Suisse completed earlier this week, UBS has also taken on extensive legal inheritance issues.
According to the FT, a civil lawsuit over “tuna bonds” will begin in September in the London High Court. CS paid a $475 million fine in 2021 in a deal with supervisory authorities in the US, UK and Switzerland.
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
