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Credit Suisse seeks way out of $607m Bermuda court award

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fnlondon.com

Credit Suisse's Bermuda life insurance unit said a loophole in Bermuda company law means it shouldn’t have to pay a billionaire client a $607m 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 $500m from the lawsuit, brought by former Georgia Prime Minister Bidzina Ivanishvili in Bermuda Supreme Court.The...

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