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Published 9 months ago

UBS settles with Mozambique in Credit Suisse ‘tuna bond’ case

  • Mozambique has reached a $1.5 billion settlement with Credit Suisse, ending the bribery and fraud case brought against the bank by Mozambique. The case, which dates back to 2013 and 2014, involved loans of about $2 billion provided by Credit Suisse to three state-owned Mozambican companies and shipbuilder Privinvest.
  • Mozambique had sought $1.5 billion in damages from Credit Suisse for alleged bribery and fraud. The settlement marks the resolution of the legal dispute between the two parties.
  • This last-minute settlement brings an end to the legal battle and avoids a potential trial, providing closure to the Mozambique-Credit Suisse case.
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