Credit Suisse AT1 Bondholders Angle for Lehman-Style Payouts (1)

A group of investors that hold claims tied to about $17 billion of bonds wiped out in the rescue of Credit Suisse are pointing to another failed bank as an example of the potentially lucrative payday they’re holding out for: Lehman Brothers.

A surprise Swiss court decision this week has fueled their hopes. The ruling, which has already been challenged by the country’s financial regulator, revoked the 2023 order to zero about $17 billion of Additional Tier 1 notes as part of Credit Suisse’s takeover by UBS Group AG.

The decision lays the ground for a lengthy legal ...