business / news / / Reuters
The court said Credit Suisse ceased to exist as a criminal-law entity three years ago.
The court ruled that Credit Suisse no longer exists as a criminal-law entity after merging with UBS.
KEY POINTS
- Swiss prosecutors accused Credit Suisse of failing to prevent money laundering in Mozambique a decade ago.
- Prosecutors argued UBS, as Credit Suisse's legal successor, should be liable for Credit Suisse's failings.
- The court decided UBS cannot be held liable for Credit Suisse's alleged misconduct due to the merger.
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