Partner Mark Hastings examines the challenges UBS faces in resolving historic issues affecting Credit Suisse, and how the bank may likely approach Credit Suisse-related litigation given the reputational risks involved.
“This case exemplifies the uphill battle UBS faces to resolve the legacy issues it will inherit in its controversial takeover of Credit Suisse.
“It will be interesting to see how the trial plays out especially in the context of the public and political divisions in Switzerland over the bank’s collapse and cultural problems.
“The outcome of this case may well also set precedent for UBS’ approach to handling the myriad Credit Suisse-related legal claims it is inheriting, and whether UBS will decide to simply settle other legacy claims behind closed doors in order to avoid further public scrutiny in Switzerland and internationally.
“Given the outcry following the writeoff of $17 billion of Credit Suisse bonds last month, UBS may wish to keep protracted litigation to a minimum for reputational purposes.”
Quillon Law ranked as a “Firm to Watch”
Quillon Law ranked as a "Firm to Watch" and Partner Michael Barnett recognised as a Leading Individual in The Legal 500 UK 2023 Guide
Partner Nicola McKinney explores IRS crypto proposals in Bloomberg
Partner Nicola McKinney argues that recent US Treasury proposals that would force crypto brokers to disclose details of their clients’ transactions fail to address the cross-border nature of many digital assets.
Partner Nicola McKinney discusses digital asset recovery and the Economic Crime and Corporate Transparency Bill in Law360
Partner Nicola McKinney examines a recent Civil Recovery Order and explores how the recovery of digital assets will be impacted by upcoming legislation.
Partner Nicola McKinney analyses the G20’s crypto recommendations in Compliance Monitor
Partner Nicola McKinney explores recent recommendations from the G20's Financial Stability Board regarding the regulation of crypto assets, and discusses the role of such reports in forming an integrated and cross-border regulatory approach.