Credit Suisse has to repay hundreds of millions of euros to Georgian ex-prime minister – banks

2023-05-26 11:53:53

Zurich – The crisis-ridden Credit Suisse will probably have to repay several hundred million euros to the former Georgian Prime Minister Bidzina Ivanishvili. The International Commercial Court in Singapore has found breaches of duty at Credit Suisse. According to the judgment published on Friday, Ivanishvili lost $926 million because of the mistakes made by the major Swiss bank. Credit Suisse is obliged to compensate Ivanishvili for the damage. In the context of a comparison, however, this amount would have to be reduced by around 79 million dollars. In addition, the compensation payments called for in parallel proceedings in Bermuda would have to be invoiced so that there would be no double recovery.

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