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SC asks SpiceJet to pay USD 1 million per month to Swiss firm for six months towards dues repayment

September 22, 2023 10:27 pm

The airline is already paying USD 0.5 million as monthly instalment to the Swiss firm.

Prepared by UBS after a global review to assess the timeline of regulatory approvals necessary for the integration of Credit Suisse to complete, the document said uncooperative regulators could put transactions such as the Swiss bank deal at risk.

UBS names South Korea, India, others as 'slow' on Credit Suisse approval

September 19, 2023 3:33 pm

UBS has identified at least four countries, including South Korea and India, as being "slow" to grant the regulatory approvals needed to complete its takeover of Credit Suisse, an internal document reviewed by Reuters shows.

Most leading euro zone banks have met a January 2024 target for issuing special debt to replenish capital in a crisis, but some need to do more to ensure they can, if necessary, be wound up quickly, a EU regulator said.

EU watchdog scrutinises banks' defences after SVB, Credit Suisse woes

September 19, 2023 10:51 am

Recent banking crises in the United States, where Silicon Valley Bank collapsed, and in Switzerland where UBS was forced to acquire Credit Suisse, show that banks and regulators need to increase preparedness for rapidly unfolding crises, the Single Resolution Board (SRB) said.

SpiceJet-Credit Suisse case: SC threatens to throw SpiceJet CMD into 'Tihar jail' over non-payment of dues to Swiss firm

September 12, 2023 7:52 pm

SpiceJet and Credit Suisse had told the Supreme Court on August 18, 2022 about the resolution of their financial dispute which led to the withdrawal of an appeal by the low-cost airline against a Madras High Court order.

If SpiceJet fails to pay, the Supreme Court said it will take "drastic action" at the next hearing on September 22.

'Not bothered even if you die': SC warns SpiceJet of 'drastic action' if Credit Suisse dues unpaid

September 13, 2023 9:45 am

Credit Suisse and SpiceJet have been engaged in a legal dispute since 2015 over the bank's claim of unpaid dues of around $24 million, which led to the Madras High Court's order that the airline be wound up in 2021.

UBS ends rescue packages from Swiss govt that paved way for Credit Suisse takeover

August 11, 2023 2:27 pm

UBS said it had repaid 50 billion francs in loans from the Swiss National Bank and 100 billion francs in liquidity support from the Swiss government, while ending a 9 billion franc “loss protection agreement” with the government.

Swiss National Bank calls for new measures after Credit Suisse crash

June 22, 2023 11:30 am

Switzerland's largest bank recently grew even bigger, following its rescue of embattled Credit Suisse in a takeover engineered by Swiss authorities in March and formalised by UBS on June 12.

Finance head of Credit Suisse's domestic business to depart bank

June 14, 2023 11:29 am

Antoine Boublil joined Credit Suisse in 2016 and in addition to his role as Chief Financial Officer of the Swiss bank division.

Why UBS has a Swiss mountain to climb with Credit Suisse

June 13, 2023 10:10 am

The world's biggest banking deal since the 2008 financial crisis has forged a wealth manager with an unrivalled global reach and $5 trillion in assets under management, handing UBS an overnight lead it would otherwise have taken years to achieve in key markets.