Category: Litigations

Bankruptcy in Argentina: Glencore’s role questioned by Credit Agricole and Natixis

This is the biggest bankruptcy of an Argentine company since the economic crisis of 2001. Soy giant Vicentin abruptly declared, in December 2019, that it was unable to honour its debts. The slate left to its biggest lenders, which include Credit Agricole and Natixis, amounts to 500 million dollars. The latter have chosen to investigate …

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Bordeaux Winegrower kept 112 million in hidden Swiss accounts

The widow of a Bordeaux winegrower, a mysterious Luxembourg investment company, a “sophisticated and incomprehensible” financial arrangement and a lawyer with a murky role: this unusually complex case is now in the hands of the the Geneva Public Prosecutor’s Office. In a ruling handed down on 13 January 2020, the Federal Supreme Court decided to …

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Swiss Federal Police refuse to delete confidential report on Roman Abramovitch

Russian billionaire Roman Abramovitch has demanded that the Swiss Federal Police (Fedpol) delete the information which led to the withdrawal of his application for Swiss residency in 2017. The Federal Supreme Court has just dismissed his appeal relating to an aspect of the case. Abramovitch’s Swiss humiliation became public in 2018. Several newspaper titles in Tamedia group reported that the Swiss authorities had turned …

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Company linked to Baez clan tries to recover undeclared funds in Switzerland

On September 4, 2019, the Federal Supreme Court made a ruling in a case involving a mysterious Panamanian company and CA Indosuez Suisse bank. Star Equities Holdings, whose administrators are connected to the Baez scandal in Argentina, claims to hold three accounts at Crédit Agricole Private Banking, with deposits totalling 1.3 million francs. The company said it asked for the accounts to be …

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Credit Suisse admits responsibility in “Cocaine King” scandal

In July, Gotham City revealed that Credit Suisse was implicated in a sprawling investigation involving the former Bulgarian “Cocaine King” Evelin Banev. A recent decision by the Federal Criminal Court shows that the bank has admitted the facts of which it stands accused and has asked for a quick judgment by a simplified procedure. Banev has been previously convicted in …

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Accommodated by the EU, Ivanyushchenko remains on Swiss sanctions list

Former Ukrainian MP Yuriy Ivanyushchenko has failed in an attempt to have his name removed from the Swiss sanctions list targeting allies of former president Viktor Yanukovych, ousted in 2014. Currently being investigated for fraud by the Office of the Attorney General of Switzerland, Ivanyushchenko lost his appeal to the Federal Administrative Court. The fact that the European Union chose to remove Ivanyushchenko’s name …

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Spanish tax authorities fail to pin down Swiss watchmaker Marzio Villa

The Spanish authorities suspect that the owner of the Swiss watch brand Cuervo y Sobrinos, who is officially resident in the Swiss canton of Ticino, is actually living in Spain and should be taxed there. However, the Federal Administrative Court has rejected the Spanish request for legal assistance, citing lack of supporting evidence. Of Italian origin, Marzio …

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