Barring a last-minute injunction, the case will go to trial in September in Singapore, threatening fresh negative headlines for Credit Suisse after repeated scandals and the appointment of a third CEO in less than three years.
Credit Suisse Group AG’s legal battle with billionaire client Bidzina Ivanishvili has spread to Singapore as the Georgian gears up for trial with a unit of the Swiss lender over what he claims are US$800 million ($1.11 billion) in losses tied to a rogue banker.
Fresh from a big win in Bermuda earlier this year, the former Georgian premier is now suing a different subsidiary of Credit Suisse as part of his campaign to claw back profits frittered away by convicted fraudster Patrice Lescaudron.
