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US bondholders preparing to sue Swiss government over wipeout of $17 billion worth of Credit Suisse bonds

March 24, 2023 -

Swiss bank Credit Suisse was sold to one of its main competitors, UBS, in a sale brokered by the Swiss government. As part of this deal, UBS was forced to pay out $3.25 billion to shareholders. But the government also used an emergency ordinance to write down the value of the bonds to zero. (Related: Credit Suisse merger with USB could destroy Western bond market after bank zeroed out BILLIONS in bonds.)

These bondholders own securities that are known as Additional ...

Creditors pressure Ukraine to PAY UP on its loans

May 10, 2024 - bondholders said servicing the interest on this bonds would cost Kyiv $500 million annually.

"Should the bondholders fail to strike a deal with Kyiv by August, Ukraine could default. This would damage the country's credit rating and restrict its ability to borrow even more money in the future," the Daily Expose said.

The WSJ added that Ukrainian officials are hoping that the U.S. and other Western governments will side with Kyiv during talks with the ...

Sovereign debt paradox: U.S.-China mutual holdings fuel geopolitical tensions

April 13, 2025 - bondholders

The roots of the debt controversy stretch to the 20th century. Before the Communist Party’s 1949 victory, the Nationalist-led Republic of China (ROC) issued gold-denominated bonds to fund infrastructure and wartime efforts. When the ROC defaulted in 1938 amid its war with Japan, the issue lingered after China’s communist takeover. Under international law’s “successor government” doctrine, the People’s Republic of China (PRC) is legally obligated to honor these ...

Swiss defend $17BN AT1 bond wipeout in Credit Suisse deal as furious creditors including David Tepper vow to sue Switzerland

March 26, 2023 - bondholders have pledged to sue the Swiss government and Finma over the matter the FT reported.

In its first statement on the deal since the weekend, Finma said on Thursday that all the contractual and legal obligations had been met for it to act unilaterally given the urgency of the situation.

“On Sunday, a solution was found to protect clients, the financial centre and the markets,” said Finma’s chief executive Urban Angehrn. “In this context, it is important ...

Credit Suisse merger with USB could destroy Western bond market after bank zeroed out BILLIONS in bonds

March 23, 2023 - bondholders, who fear that other countries' authorities may follow the Swiss government's example, said the report.

“It’s stunning and hard to understand how they can reverse the hierarchy between AT1 holders and shareholders… Wiping out AT1 holders while paying substantial amounts to shareholders goes against all the resolution principles and rules that were agreed internationally after 2008,” said Jerome Legras, the chief of research at Axiom Alternative Investments, ...

“This just makes no sense”: European regulators rush to calm AT1 investors after Credit Suisse wipeout shock

March 21, 2023 - bondholders.“This just makes no sense,” said Patrik Kauffmann, a fixed-income portfolio manager at Aquila Asset Management, who holds Credit Suisse CoCos. “Shareholders should get zero” because “it’s crystal clear that AT1s are senior to stocks.”

pic.twitter.com/zZzhhpngMq

— Sean Tuffy (@SMTuffy) March 20, 2023

As noted last night, the wipeout of 16 billion francs ($17.2 billion) of Credit Suisse’s so-called AT1 bonds is the biggest loss yet for ...

Two Chinese real estate giants face financial disaster: Kaisa and Evergrande

December 10, 2021 - bondholders said on Tuesday, Dec. 7, that their interest payments have yet to arrive.

Kaisa is facing a similar problem, with the company unlikely to meet its offshore debt deadline to pay $400 million.Evergrande set to become China's biggest defaulter

Evergrande's failure to deliver $82.5 million in interest payments last month is expected to cause a cross-default on its international bonds worth $19 billion. This put the real estate developer at risk of ...

Evergrande’s future in limbo amid debt repayment default

December 12, 2021 - bondholders fail to receive coupon payments

Meanwhile, some offshore bondholders of Evergrande did not receive coupon payments by the end of a 30-day grace period, four people with knowledge of the matter said. This, according to them, is pushing the cash-strapped property developer closer to formal default.Failure to deliver the $82.5 million in interest payments to creditors that were due last month would cause cross-default on Evergrande's international ...

Hong Kong court tells China’s Evergrande property developer to LIQUIDATE with debts of $330 billion

January 30, 2024 - bondholders, and the situation can be even worse for shareholders."

Prior to the hearing, Evergrande's share price had tanked by about 20 percent. Following the verdict, trading was halted in China Evergrande and its listed subsidiaries China Evergrande New Energy Vehicle Group and Evergrande Property Services.

China's capital and property markets were already on very thin ice as it is prior to the ruling. With $240 billion in assets, which is substantially ...

Used car prices drop 14.2% due to influx of new cars, higher borrowing costs

December 19, 2022 - bondholders and we will not be addressing any questions that arise from actions taken by such bondholders," a company spokesperson said.

"Our message to our customers, shareholders, employees and other stakeholders remains clear: we are singularly focused on executing the plan profitability outlined in our Q3 Shareholder Letter and we have substantial liquidity to get us there. In no way does today's news change that strategy."Study: Buyers still ...

COLLAPSE of subprime auto lender sparks fraud fears and financial turmoil

September 24, 2025 - bondholders and lenders are rushing to protect their interests," said Boris Peresechensky, a portfolio manager at Orange Investment Advisors.

Fifth Third Bancorp, one of Tricolor's major creditors, disclosed last week that it suspects the lender's master loan tape – a critical document detailing borrower information – was "corrupted." Meanwhile, JPMorgan Chase & Co. and Barclays Plc are conducting forensic audits to assess their exposure, with Fifth Third alone ...

Silicon Valley Bank collapse biggest since Great Recession as FDIC promises to cover ALL deposits, not just first $250K (UPDATED)

March 13, 2023 - bondholders, shareholder and investors, as opposed to retail customers. Bondholders lost a reported $30 billion, while investors clawed back just five cents per share. At the beginning of 2007, shares were worth about $45 each. After Washington Mutual and Silicon Valley Bank, the third largest bank failure in the US happened in 1984, when Continental Illinois failed with approximately $40 billion in assets.

The bank, which has a history dating back to the 1800s, ...

Credit Suisse bond BAIL-IN proves the entire western financial system is a grand CON

March 20, 2023 -

As CNBC reports, "The $17 billion wipeout of Credit Suisse bondholders has not gone down well in Europe."

One section of Credit Suisse’s bondholders is set to be wiped out following the struggling bank’s takeover by UBS, causing them to see investments worth 16 billion Swiss francs ($17 billion) become worthless. The Swiss regulator FINMA announced Sunday that the so-called additional tier-one bonds, which are widely regarded as relatively risky investments, ...

Rite Aid to close up to 500 stores in BANKRUPTCY proposal

September 25, 2023 - bondholders would prefer to liquidate a larger number of stores, including those stuck in "uneconomical long-term leases that the company can't get out of, making bankruptcy an effective tool to shed them."

Rite Aid is also considering holding an auction to sell its Elixir pharmacy unit along with other valuable parts of its business.

In Rite Aid's case, most of the federal opioid lawsuits against the company have been consolidated into a multi-district ...

US could default on its debt by July if deal on raising the debt ceiling is not reached

February 21, 2023 -

The current debt ceiling is $31.4 trillion. The U.S. is expected to reach this limit sometime between July and September, according to the CBO's projections. For now, the Department of the Treasury is working overtime deploying a series of special accounting maneuvers, referred to as "extraordinary measures" by the CBO, to make sure the government can keep paying its obligations, such as to bondholders and to Social Security recipients.

"If the debt limit is ...

Chinese developer Evergrande misses bond payment, default “inevitable” (now officially declared)

December 09, 2021 - bondholders right now. This means that the company has failed, and yet the corporate media refuses to acknowledge this fact.

Wall Street is likewise ignoring reality as the Federal Reserve under Jerome Powell, and the Treasury under Janet Yellen, continue to pump worthless fiat dollars into the markets, driving inflation and wrecking the global economy – oh, but at least obscenely rich criminals are still getting richer.

The S&P, refusing to call a spade ...

China’s bond market implosion now a financial CONTAGION as debt defaults spread

October 12, 2021 -

Following the Evergrande fiasco, many other property developers in China have since seen massive selloffs as the companies that occupy China's junk bond market implode one by one.

Fears continue to grow about a financial "contagion" event that many believe will eventually spread far outside of China as offshore bondholders become bag holders. Evergrande, for instance, has missed another round of interest payments, breaching multiple deadlines and shattering ...

U.S. government to pay an additional $1.1 TRILLION in interest for country’s debt over the next 10 years after Treasury yields jump

February 23, 2024 - bondholders. That consequently raises spending on interest even further and raises issuance.

Federal debt held by the public is expected to rise from a record $26 trillion in 2023 to $48 trillion by 2034. "All else equal, a bigger government deficit means higher short-term and long-term interest rates. That means lower growth, and in theory, that means lower asset values as well," said Lee Ferridge, chief of macro strategy for North America at State Street Global ...

Argentina’s President-elect Javier Milei says country won’t join BRICS group… instead, he will embrace the collapsing DOLLAR

November 25, 2023 - bondholders and the International Monetary Fund next year. Martin Castellano of the Washington, D.C.-based Institute of International Finance said the country will need "a big current account surplus amid a stabilization plan" to tackle the arrears.Fernandez touts benefits of joining BRICS

In August, Fernandez described the opportunity to join BRICS as a "new scenario" for Argentina. His comment followed Moscow's acceptance of Buenos Aires' request for membership....

Bob Moriarty urges Americans to EDUCATE themselves about the dire state of the western financial system

April 03, 2023 - bondholders have their investments wiped out and pension funds are in real trouble.

Adams also referenced the uprising in France related to pensions, which was triggered by French President Emmanuel Macron raising the retirement age from 62 to 64. He warned that this could spread to Germany, the U.K. and other parts of Europe. Moriarty attested to this, adding that a civil war is already underway in Israel.

According to Moriarty, the ongoing Russia-Ukraine ...