Affair to shading by Iqbal Khan – Credit Suisse gets Federal court a US large law firm investigates on behalf of Finma, the responsibilities of the shading affair by Iqbal Khan. Credit Suisse does not fit the. Because the lawyers lead to a number of proceedings against the Bank.Beat Schmid3 Kommentare3Dürfte from the Finma officer also be consulted: The former CS Manager, Iqbal Khan, who now works for the UBS. Photo: Arnd Wiegmann (Reuters)
The Credit Suisse pulls out of the case, a lawyer for the US law firm Quinn Emanuel Urquhart & Sullivan in front of the Federal court. The Bank alleges that the financial market Supervisory authority, not to have a firm selected, the bring the required independence.
at the end of January, the authority Thomas Werlen, the Managing Partner of the Swiss office of Quinn Emanuel officer, the responsibilities of the shading of the former members of the Executive Committee of Iqbal Khan, and Peter Goerke illuminate. Credit Suisse filed a complaint.
it was, In fact, and the law firm in several lawsuits against the big Bank is active. So she is leading a class-action lawsuit against Credit Suisse and other big banks because of securitized Subprime loans. In another case, a class action lawsuit in connection with the so-called interest rate swap transactions. The best known case concerns a complaint by the Russian billionaire Vitaly Malkin, has suffered on the investments a large loss. The law firm has any debt enforcements against the big Bank on the Run.
US firm sees itself as a horror of large corporations
The big law firm out of Los Angeles sees itself as a horror of large corporations, as it says on the Website. With over eight hundred lawyers, they boasted of having more than 70 billion dollars for their clients brought out.
For Credit Suisse Quinn Emanuel is a red cloth. It takes the position that a Prüfbeauftragter neutral, should be neither for nor against the Examined. This is not given in the case of Quinn Emanuel.
It was not only the appearance of bias – the firm was self-conscious because of the numerous processes “actually,” says Credit Suisse. The Federal administrative court dismissed a lawsuit in the court in March. For Prüfbeauftragte less strict bias rules would apply as in the case of judges or experts, noted the court.
hourly wage of 750 francs
The big Bank is defending itself against the investigation as such. Werlen and his twelve-strong Team started with the preliminary investigations already. They will conduct Interviews and screen E-Mails and phone data.
But presumed sensitive data Werlen, which works out to an hourly wage of 750 francs is not likely to get possibly even. Because compulsory measures, such as the advent of mobile phones is not available to him. In addition, a lot of messages are irretrievably lost.
The knowledge gain could be modest. Especially since the main protagonists have left the Bank already, such as Tidjane Thiam, or Pierre-Olivier Bouée. Also Iqbal Khan is no longer with Credit Suisse, but has been working for a few months at UBS.
This week it was announced that Khan acquired Credit-Suisse-Banker Remi Mennesson. One of the reasons why Bouée Khan had originally followed were fears that Khan might project this.
“in our view, is Quinn Emanuel is not as required by law, regardless.”
It is assumed that the Khan of the Finma able to rely on is questioned. However, probably only as a victim of the shading. Not, the focus is on the extent to which Khan himself mittat the escalation of the affair, in the, at times, a prominent PR consultant, several lawyers and other middle men were active.
Against Khan and his wife a display of the detective offices Investigo is pending. The private investigators accuse the couple tried coercion, false accusation, false imprisonment and misleading the justice.
The big Bank writes in a statement: “Credit Suisse confirms that it is the judgment of the Federal administrative court from Federal court review. In the centre of the question of the independence of the able to rely on the law firm Quinn Emanuel is as in the past. In our view, Quinn Emanuel is not as required by law regardless, because you are in the world many of the court processes against the Bank.”
The Bank writes: “Credit Suisse continues to cooperate fully with the able to rely. Due to the ongoing proceedings, the Bank does not comment further on the matter.” A spokesman for Finma, writes: “We take the Appeal of the Bank note.”
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