Singapore court orders Credit Suisse to pay Georgian ex-PM RM4.26 billion


Singapore, May 26, 2023 (AFP): A Singapore court on Friday ordered Credit Suisse to pay an ex-Georgian prime minister US$926 million (RM4.26 billion) for failing in its duty to safeguard his assets, in another blow to the fallen banking giant.

Credit Suisse was bought by its rival UBS, Switzerland's biggest bank, in March to prevent a financial collapse following a series of scandals.

The Star 6.6 DEAL: 35% OFF Digital Access

Monthly Plan

RM 13.90/month

RM 9.04/month

Billed as RM 9.04 for the 1st month, RM 13.90 thereafter.

Best Value

Annual Plan

RM 12.33/month

RM 8.02/month

Billed as RM 96.20 for the 1st year, RM 148 thereafter.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Aseanplus News

Japanese man held at Thai airport over alleged yakuza-linked call-centre scam
Man in Indonesia allegedly laced chicken satay with rat poison, killing mother-in-law
Drive safely, responsibly and you could get up to 10% extra insurance discount, says Loke
What’s eating Pakistan’s mangoes?
Temporary facilities completed in Mongolia ahead of UN COP17 conference
July 8 court date for Azam Baki's defamation suit against Albert Tei
Everest survivor out of intensive care, as probe calls grow
Sri Lanka emerging as a new base for Asia’s scam networks
Australia's Queensland charges 16 in methamphetamine trafficking investigation
Over 30,000 nabbed in crackdown against illegal businesses involving foreigners, says Immigration DG

Others Also Read