Credit Suisse Seeks Loophole to Shed $600 Million Court Judgment

Credit Suisse Group Bermuda life insurance unit said a loophole in Bermuda company law means it shouldn’t have to pay a billionaire client a $607 million court award.

The last-minute legal challenge, if successful, would wipe out a large liability hanging over the bank. Credit Suisse in March flagged damages of more than $500 million from the lawsuit, brought by former Georgia Prime Minister Bidzina Ivanishvili in Bermuda Supreme Court. 

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