The Swiss press publishes an article regarding the activities of Credit Suisse. The author of the article in finews.com also writes about Bidzina Ivanishvili dispute with the bank.

“Even if everything goes according to plan for CEO Ulrich Koerner, Credit Suisse faces fateful moments next year. finews.com charts the bank’s course through the challenging months ahead.

The Revenge of the Lescaudron Victims – Served Cold

Since 2015, victims of former Credit Suisse private banker Patrice Lescaudron have been in litigation. In the coming months, their global stranglehold on the bank is likely to tighten.

A verdict in Singapore is expected before the end of the first quarter. One of the big bank’s fiduciary companies, sued by Georgian billionaire Bidzina Ivanishvili (pictured above), admitted to the Commercial Court it had failed to inform the wealthy client about unauthorized transfers. Still, the Credit Suisse subsidiary did not want this to be understood as an admission of guilt. The damages claimed by Ivanishvili in Singapore amount to $1.27 billion.

In the first half of the year, the written verdict of the Court of Appeal in Bermuda is expected to be handed down. The court will decide whether a subsidiary of the bank must pay the $600 million in damages that the subsidiary was ordered to pay in March.

Criminal charges against Credit Suisse in Switzerland were filed at the end of 2021. Since then, various bankers have been questioned by the Geneva prosecutor’s office. Following that, things remained quiet. But that could change in 2023”, - reads the article.