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  • Dispute Resolution
  • Competition Law / International Trade

Credit Suisse takeover:protecting Japanese investments under the Japan-Switzerland EPA

On 18 March 2023, the sale of struggling Credit Suisse to its rival, UBS, was announced. The transaction took the form of a merger of the two banks supported by the Swiss Government, with UBS to be the only surviving entity upon the closing of the merger transaction (“Transaction”). In an unprecedented turn of events, Government measures taken to support the transaction triggered a complete write-down of the nominal value of all Credit Suisse Additional Tier 1 ("AT1") bonds in an amount of around 16 billion Swiss Francs, while the takeover preserved some value for Credit Suisse’s shareholders. This newsletter addresses the situation Japanese investors in Credit Suisse AT1 bonds are currently facing as a…To read the article, please see the PDF file

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Lars’ practice is focused on commercial and investment arbitration. He has particular expertise in contentious proceedings involving post-M&A, commercial, manufacturing, construction, and distribution matters, in areas such as life sciences, automotive, and energy. Lars also deals with cases involving governments, and has advised foreign investors and sovereign states on issues of foreign direct investment and public international law, including related negotiations and investor-state disputes. He has been involved in more than 50 international arbitrations as counsel and arbitrator under the arbitration rules of institutions such as the ICC, DIS, SAC, NAI, ICDR, KCAB, JCAA, SIAC, and ICSID, as well as under the UNCITRAL Rules.

富松 由希子

Ms. Tomimatsu has extensive experience in the field of international economic law and international arbitration and litigation relating to cross-border business and investment.

She is familiar with EPAs/FTAs (especially in the areas of investment and services, and sustainable development, including labor, environment, and state-owned enterprises), investment agreements/BITs, and international economic law relating to natural resources and energy. She has extensive experience in negotiating international agreements and resolving international economic disputes, and has been involved in the formation of international economic rules and their strategic application in order to ensure fair competition and improve the business environment both in Japan and overseas. She also provides clients with analysis and advice on the formation of rules and their strategic operation and utilization.

With regard to international dispute resolution, she has particular expertise in investor-state dispute settlement procedures (ISDS), international commercial arbitration and mediation, and domestic and international litigation. With regard to foreign investment, utilizing her experience in handling international economic disputes gained at a U.S. law firm, she advises on the prevention of economic disputes in international transactions and business development in foreign countries, as well as on issues to be resolved locally by companies, in particular, those who have suffered or may suffer economic loss due to domestic or foreign discriminatory measures, expropriation and unfair treatment involving the host country of the investment.

She is the author of numerous publications and seminars papers, and frequently presents at conferences on international investment law and international arbitration.