Ivanishvili will continue to sue the Swiss bank Credit Suisse

https://sputnik-georgia.ru/20220510/ivanishvili-prodolzhit-suditsya-so-shveytsarskim-bankom-credit-suisse-266536220.html

Ivanishvili will continue to sue the Swiss bank Credit Suisse

Ivanishvili will continue to sue the Swiss bank Credit Suisse

The bank associates its actions or inaction with international politics, which takes the form of political pressure, the representative of the… 10.05.2022, Sputnik Georgia

2022-05-10T19:34+0400

2022-05-10T19:34+0400

2022-05-10T19:34+0400

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Bidzina Ivanishvili

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TBILISI, May 9 – Sputnik. The ex-Prime Minister of Georgia, billionaire Bidzina Ivanishvili sued the Green Vals Trust trust fund, established by the Swiss bank Credit Suisse. 2022, the beneficiaries requested a payment that the Green Vals Trust authorized only on April 4, 2022, which caused financial damage to the beneficiaries of the fund. During this time, the trustee made unreasonable requests for information and cited the “geopolitical situation in Eastern Europe” as an excuse for the delay, however thereby not fulfilling its main function – managing the assets of the trust in the interests of the beneficiaries. “Bidzina Ivanishvili is extremely dissatisfied with asset management. In fact, we are in a situation in which the actions of the manager totally contradict the goals and principles of the trust. Their actions have no economic basis, they create a dangerous precedent. The most interesting thing is that the bank links its actions or inaction with international politics, which takes the form of political pressure,” the PR company said in a statement. The banker who deceived Ivanishvili will go to jail >> . “Ivanishvili will devote every meeting with the media to the aforementioned topic and “debunk the myths” associated with the impeccable image of the Swiss banking and judicial system, talk about the recent political pressure and what he discovered about the bank and the manager,” the message says. Successful case Bidzina Ivanishvili sued Credit Suisse five years ago. After selling his assets in Russia – in two stages in 2005 and 2011 – Ivanishvili deposited the proceeds with a bank. We are talking about a deposit in the amount of 755 million dollars. In 2015, Ivanishvili discovered that $400 million had disappeared from his insurance scheme due to fraudulent transactions. Ivanishvili accused the Swiss bank of failing to stop the fraud and failed to justify the high trust of the client, and for several years introduced the billionaire into delusion. According to Ivanishvili’s lawyer, in 2018 a Swiss court ruled that the case revealed an unprecedented scale of violations by Credit Suisse.

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The bank links its actions or inaction to international politics, which takes the form of political pressure, the company representing the interests of the billionaire says in a statement.

TBILISI, May 9 – Sputnik. Ex-Prime Minister of Georgia, billionaire Bidzina Ivanishvili has filed a lawsuit against the trust fund Green Vals Trust, established by the Swiss bank Credit Suisse.

In March, Ivanishvili won a lawsuit in Bermuda against the Swiss bank Credit Suisse for about $500 million.

“The new lawsuit was the result of serious violations of the obligations of the trustee of the beneficiaries’ assets and ignoring the legitimate interests of the client,” Cision, a PR company hired by a Georgian billionaire, said in a statement.

In particular, on March 4, 2022, the beneficiaries requested a payment, which the Green Vals Trust authorized only on April 4, 2022, which caused financial damage to the beneficiaries of the fund.

During this time, the trustee made unreasonable requests for information and cited the “geopolitical situation in Eastern Europe” as an excuse for the delay, thereby failing to fulfill its primary function of managing the trust’s assets for the benefit of the beneficiaries.

“Bidzina Ivanishvili is extremely dissatisfied with asset management. In fact, we are in a situation in which the actions of the manager totally contradict the goals and principles of the trust. Their actions have no economic basis, they create a dangerous precedent. The most interesting thing is that the bank links its actions or inaction with international politics, which takes the form of political pressure,” the PR company said in a statement.

Banker who deceived Ivanishvili will go to jail >>

The document notes that Ivanishvili will hold a series of press conferences for international media about his legal proceedings with the Swiss bank Credit Suisse.

“Ivanishvili will devote every meeting with the media to the aforementioned topic and “debunk the myths” associated with the impeccable image of the Swiss banking and judicial system, talk about the recent political pressure and what he discovered about the bank and the manager,” the message says.

Court won

Bidzina Ivanishvili sued Credit Suisse five years ago. After selling his assets in Russia – in two stages in 2005 and 2011 – Ivanishvili deposited the proceeds with a bank. We are talking about a deposit in the amount of 755 million dollars. In 2015, Ivanishvili discovered that $400 million had disappeared from his insurance scheme due to fraudulent transactions.

Ivanishvili accused the Swiss bank of not being able to stop the fraud and not justifying the high trust of the client, and also misleading the billionaire for several years. According to Ivanishvili’s lawyer, in 2018 a Swiss court ruled that the case revealed an unprecedented scale of violations by Credit Suisse.

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