Middle East

Credit Suisse loses lawsuit filed by wealthy Kuwaiti investors

Mahmoud Haji Haider Abdullah and his sons had lost $29 million at the end of October 2008, Judge Andrew Baker rules, without detailing possible damages in case.

bloomberg

27.11.2017

(Bloomberg) A Kuwaiti family worth at least half a billion dollars won a London lawsuit against Credit Suisse Group AG after losing $29 million (€24m)while investing with the bank during the 2008 financial crisis.

Mahmoud Haji Haider Abdullah and his sons, Maytham, Mahdi, and Mansour, had lost $29 million at the end of October 2008, Judge Andrew Baker said Monday, without detailing the possible damages in the case.