Two informed sources told Reuters, on Wednesday, that the Qatar Investment Authority, which is the second largest investor in Credit Suisse, has studied seeking compensation for the losses it incurred due to the acquisition of the Swiss bank.
This coincides with mounting legal challenges to the Swiss government-backed bailout.
The two sources added that the Qatari sovereign wealth fund sought legal advice on whether it was entitled to claim compensation from the Swiss authorities, including through resorting to international arbitration, after the forcible sale of Credit Suisse to the UBS group for an amount significantly less than its market value.
It has not been previously announced that the $475 billion sovereign wealth fund will study the legal options available to it.
Reuters calculations showed that the Qatar Investment Authority is expected to lose about $330 million of its stake in Credit Suisse as a result of its sale to UBS.
2023-05-17 18:20:51
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