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Former Georgian PM wins Bermuda claim against Credit Suisse subsidiary -Breaking

by Mike Robinson

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© Reuters. Bidzina, Georgia’s ex-Prime Minister addresses media during a visit to a polling station in Tbilisi on November 28th 2018. REUTERS/Irakli Gebenidze

ZURICH (Reuters – On Tuesday, a Bermuda court ruled that a subsidiary was of Credit Suisse (SIX =) Was responsible for hundreds and millions of dollars in losses caused by fraud trades for a billionaire client.

According to the court, former Prime Minister of Georgia BidzinaIvanishvili was entitled to compensation from Swiss Bank’s Bermuda-based life-insurance arm. The bank stated that it would appeal this verdict.

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