US EditionSwiss Court Shelves Case Against UBS over Credit Suisse Actions in Mozambique
The court said Credit Suisse no longer had legal personality after UBS’s takeover, while proceedings against a former employee continue.
9 Articles
9 Articles
The Federal Criminal Court closed proceedings on Friday in the case of credits granted to Mozambique. The case concerned Credit Suisse, which had been removed from the commercial register after its merger with UBSThe Federal Criminal Court (TPF) closed proceedings against UBS in the case of credits granted to Mozambique, which was primarily concerned with Credit Suisse.The judges considered that criminal liability could not be transferred to UBS…
The Bank bears no responsibility for Credit Suisse's defaults in the context of the Mozambique credit scandal.
Swiss Court Drops UBS Money Laundering Proceedings
Switzerland’s Criminal Court has officially discontinued proceedings against global financial services firm UBS concerning a suspected money laundering case in Mozambique. The significant decision, announced on Friday, relates specifically to alleged actions taken by Credit Suisse, which UBS acquired in a state-engineered merger in 2023. UBS, a cornerstone of the global financial sector, provides a comprehensive array of banking, wealth manageme…
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