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A bench led by Chief Justice DY Chandrachud admitted the governments appeal and tagged it along with similar appeals filed by RBI and Yes Bank, It also posted the matter for further hearing on October 16. The apex court had in March extended the stay granted by the HC on January 20.
(Bloomberg) GoldenTree Asset Management made about $100 million in profit in the weeks following an emergency rescue of Credit Suisse Group AG by UBS Group AG, driven by a well-timed bet on so-called Additional Tier 1 bonds. Most Read from BloombergSwitzerland Blocks Sale of Leopard 1 Tanks Bound for UkrainePutin Claims He’s Back in Control. Russia’s Elite Isn’t SureQatar Group Now Confident of Winning Manchester United RaceSweden Police Give Permit to Koran Burning Near Stockholm MosqueRolex
A group of Credit Suisse bondholders representing billions of dollars in high-risk debt are suing Switzerland's banking regulator over a decision that rendered 16 billion Swiss francs in additional tier 1 bonds worthless in the bank's rescue takeover by UBS. Shareholders received compensation, but bondholders are taking legal action, challenging the legality of the decision and undermining confidence in the Swiss financial centre. Multiple lawsuits are reportedly pending over the matter.