Sunday, September 7, 2025
  • Login
Forbes 40under40
  • Home
  • Technology
  • Innovation
  • Real Estate
  • Leadership
  • Money
  • Lifestyle
No Result
View All Result
  • Home
  • Technology
  • Innovation
  • Real Estate
  • Leadership
  • Money
  • Lifestyle
No Result
View All Result
Forbes 40under40
No Result
View All Result
Home Technology

Swiss court rules Credit Suisse bonus cuts were unlawful

by Riah Marton
in Technology
Swiss court rules Credit Suisse bonus cuts were unlawful
Share on FacebookShare on Twitter


The bonus measures affected around 1,000 people, some of whom challenged the decision with Switzerland’s Federal Administrative Court

Published Wed, May 14, 2025 · 06:10 PM

[ZURICH] A top Swiss court has ruled that the Swiss government’s reductions and cancellations of bonus payments to former executives of Credit Suisse after the bank failed in 2023 were unlawful, according to the ruling published late on Tuesday (May 13).

The bonus measures affected around 1,000 people, some of whom challenged the decision with Switzerland’s Federal Administrative Court, which upheld their appeal.

“The variable remunerations reduced by the (Swiss finance ministry) were binding, employer-guaranteed claims deriving from a contractual employment relationship,” the court said. “Such contractual claims are protected by the guarantee of ownership.”

The ruling may be appealed to the Federal Supreme Court, the court said in a statement.

The finance ministry said it would analyse the ruling and consider lodging an appeal to the Supreme Court.

Credit Suisse collapsed in March 2023 and was taken over by its longstanding rival UBS in an operation orchestrated by Swiss authorities.

BT in your inbox

Start and end each day with the latest news stories and analyses delivered straight to your inbox.

Acting upon the instructions of the federal Cabinet, the finance ministry in May 2023 ordered Credit Suisse to reduce or scrap outstanding bonus payments for the bank’s bosses.

UBS, which would have to pay out any restituted bonuses, said it took note of the court’s decision.

The court’s decision is likely to be closely watched by other parties affected by the demise of Credit Suisse.

In the aftermath of the bank’s collapse, Swiss financial market regulator FINMA wrote down about US$17 billion of Credit Suisse’s Additional Tier 1 (AT1) debt, angering bondholders.

A number of bondholders have since filed lawsuits against Switzerland seeking compensation for their losses. REUTERS

Share with us your feedback on BT’s products and services

Tags: BonusCourtCreditCutsRulesSuisseSwissunlawful
Riah Marton

Riah Marton

I'm Riah Marton, a dynamic journalist for Forbes40under40. I specialize in profiling emerging leaders and innovators, bringing their stories to life with compelling storytelling and keen analysis. I am dedicated to spotlighting tomorrow's influential figures.

Next Post
ComfortDelGro posts a 19% rise in Q1 net profit to S.3 million

ComfortDelGro posts a 19% rise in Q1 net profit to S$48.3 million

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Forbes 40under40 stands as a distinguished platform revered for its commitment to honoring and applauding the remarkable achievements of exceptional individuals who have yet to reach the age of 40. This esteemed initiative serves as a beacon of inspiration, spotlighting trailblazers across various industries and domains, showcasing their innovation, leadership, and impact on a global scale.

 
 
 
 

NEWS

  • Forbes Magazine
  • Technology
  • Innovation
  • Money
  • Leadership
  • Real Estate
  • Lifestyle
Instagram Facebook Youtube

© 2025 Forbes 40under40. All Rights Reserved.

  • About Us
  • Advertise
  • Contact Us
No Result
View All Result
  • Home
  • Technology
  • Innovation
  • Real Estate
  • Leadership
  • Money
  • Lifestyle

© 2024 Forbes 40under40. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In