HDFC Bank Says All Seven Bahrain Claims over Credit Suisse AT1 Bonds Rejected
The court found investors failed to provide admissible evidence and ordered them to pay costs in seven cases tied to Credit Suisse AT1 bonds.
- On Thursday, the High Civil Court in Bahrain dismissed all seven legal proceedings against HDFC Bank involving Credit Suisse Additional Tier 1 bonds, ordering investors to bear all proceeding costs.
- Investors alleged negligence and misrepresentation after Credit Suisse AT-1 bonds were wiped out during the 2023 UBS takeover of Credit Suisse, resulting in significant losses for bondholders.
- The Bahrain court rejected the allegations, finding investors failed to produce sufficient admissible evidence to substantiate claims; HDFC Bank maintained it acted only as a facilitator with no underwriting role.
- These rulings follow a March 2026 decision by the National Consumer Disputes Redressal Commission in India, which dismissed similar investor grievances and affirmed customers voluntarily chose to invest.
- HDFC Bank stated it will rigorously defend itself against unsubstantiated claims, emphasizing it is not in the business of underwriting customer investments made based on independent financial judgment.
13 Articles
13 Articles
Bahrain court rejects claims by litigants in Credit Suisse CS AT1 bonds case against HDFC Bank
HDFC Bank said it has received favourable orders from High Civil Court, Bahrain, in two proceedings initiated against the bank by the investors of Credit Suisse Additional Tier 1 Bonds (CS AT1), following judicial scrutiny of their claims and the evidentiary materials placed before the Bahrain Court.
HDFC Bank wins all seven Bahrain cases over Credit Suisse AT1 bonds
HDFC Bank said the Bahrain court found that the investors had failed to provide sufficient admissible evidence to substantiate the allegations or establish that they suffered losses because of the bank.
Credit Suisse AT1 bonds case: Bahrain court rejects all seven claims against HDFC Bank
A Bahrain court has rejected all seven legal proceedings brought by investors against HDFC Bank over Credit Suisse Additional Tier 1 bonds, finding insufficient evidence to substantiate their allegations against the bank.
HDFC Bank wins all 7 Bahrain cases over Credit Suisse AT1 Bonds claims
The bank said the favourable outcomes in Bahrain followed the dismissal by the National Consumer Dispute Redressal Commission in March 2026 of complaints by the investors of CS AT1 Bonds against HDFC Bank
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