On 03/14/2023, brazilian newspaper O Globo published an article about the crisis faced by the swiss bank Credit Suisse, which recorded a historic drop in its shares in the Silicon Valley Bank bankruptcy context.
Partner Gustavo Flausino Coelho participated in the article, pointing out the effects of the recognition, by the institution’s board and auditors, of “material weaknesses” in its internal procedures and clarifying that, despite these assertions, there has been no admission of error in the bank’s figures to date.
Credit Suisse has an ongoing restructuring plan, with an active task force since October 2022 and, according to CEO Ulrich Koerner, it is ahead of schedule in some of the goals established to overcome the crisis.
To read the full report, click here.
Bastilho Coelho Advogados