Credit Suisse - The First Time a Swiss Court Has Found a Domestic Bank Guilty of a Corporate Crime

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The next step is really to see what bond holders decide to do. They can either demand to get their money back, if 25 % of them vote to do so. It's unclear how realistically, how that woo proceed and how that'll go ahead. The bondholders might decide to wait and just see how both the war plays out, how sanctions play out, and just see what happens.

Russia is on course to default on its debt for the first time since 1998, and Credit Suisse has become the first domestic bank to be found guilty of a corporate crime after a court found the lender failed to stop the laundering of Bulgarian drug money. UK travel chaos could widen this summer as travel unions threaten strike activity.

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Mentioned in this podcast:

Russia set for first debt default since 1998 as payment deadline passes

Credit Suisse found guilty over Bulgarian drug money failings

Is Britain headed for a summer of strikes?

US company spending on private jets for personal use hits 10-year high

The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. The show’s theme song is by Metaphor Music. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley.

Read a transcript of this episode on FT.com

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