US EditionCredit Suisse bonus cuts were unlawful, court rules
- A Swiss federal court ruled on May 13, 2025, that the government unlawfully cut bonuses to around 1,000 former Credit Suisse executives after the bank's collapse in March 2023.
- The government ordered bonus reductions in May 2023 following Credit Suisse's failure and takeover by UBS, leading some affected executives to legally challenge the cuts.
- The Federal Administrative Court upheld the executives' appeal, affirming that the variable remunerations were contractual claims protected by ownership guarantees.
- The court described the bonus claims as "binding, employer-guaranteed claims" and indicated that the decision could be challenged before the Federal Supreme Court.
- The finance ministry said it will consider an appeal while UBS, now responsible for payouts, acknowledged the decision likely impacting other parties connected to Credit Suisse’s demise.
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Financial TimesReposted by 
Jingletree
JingletreeCredit Suisse bonus cuts were unlawful, court rules
Swiss court says government did not have legal authority to strip bankers of payouts
·London, United Kingdom
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Credit Suisse Bankers Shouldn’t Have Been Stripped of Bonuses, Court Says
The Swiss government’s decision to strip former Credit Suisse bankers of their bonuses because the now-defunct bank had to be rescued by UBS Group AG with help from the government was unlawful, a Swiss court has ruled.
·United States
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