Swiss regulator reduced value of Credit Suisse's high-risk bonds to zero in order to prevent its collapse. Investors have since mobilized to challenge this decision.
The Federal Administrative Court has received 230 complaints against the Swiss market surveillance authority. The bank itself has waived an appeal concerning part of these instruments that had been allocated to its employees as one of the components of their bonus. The amount relates to some $400 million in bonuses (€371 million) related to these bonds, according to the British business daily.