Exit Bankers, Enter Lawyers in Credit Suisse Saga
Investors are poring through documents that triggered $17-billion bond wipeout
Axel Lehmann, chairman of Credit Suisse, left, and Colm Kelleher, chairman of UBS, shake hands following a news conference in Bern, Switzerland, on Sunday.
Photographer: Pascal Mora/BloombergWelcome to The Brink. It’s Lucca De Paoli and Irene Garcia Perez in London and we're looking at the looming battle over $17 billion of Credit Suisse bonds that were wiped out by Swiss authorities. We also have the latest on SVB Financial Group and Evergrande. Follow this link to subscribe. Send us feedback and tips at igarciaperez@bloomberg.net or Tweet/DM to @irenegperez.
It’s shaping up to be one of the biggest spats in European finance since regulators reshaped the post-2008 banking landscape. Now distressed hedge funds are spying a big opportunity while blindsided debt managers are crying foul.