1,000% Gains on Dead Bank Are Good Omen for Credit Suisse AT1s
Funds won compensation for claims in SNS Reaal. But the Credit Suisse case may be different.
Utrecht’s SNS Reaal headquarters shortly after the Dutch government nationalized it in 2013.
Photographer: Jasper JuinenWelcome to The Brink. It’s Lucca De Paoli in London, where I followed the 10-year journey that led hedge funds to pocket huge returns on a defunct Dutch bank, offering a glimmer of hope to Credit Suisse’s wiped-out bondholders. We also have the latest on Bed Bath & Beyond and a London court fight involving the Vatican. Follow this link to subscribe. Send us feedback and tips at gdepaoli1@bloomberg.net or Tweet/DM to @manysundays.
The start of proceedings in Switzerland over a decision to wipe out billions of dollars of Credit Suisse debt may have grabbed headlines this week, but there were more interesting developments in a courtroom in the Netherlands.
Read the full story here: Funds to Make Returns of As Much As 1,000% From Dead Bank