In July, the U.K. subsidiary of Credit Suisse was sentenced in the US after pleading guilty to wire fraud conspiracy relating to a tuna fishing project in Mozambique.
December 05, 2022 at 04:56 AM
3 minute read
Reporter
A U.K. High Court judge has said he is “wholly unpersuaded” that a stay of proceedings in the long-running litigation between Credit Suisse and the Republic of Mozambique is “appropriate”.
The proceedings are part of the Republic’s litigation against Credit Suisse over loans arranged by the bank for the African nation, which the Republic has claimed exposed it to $2 billion in debt.
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