Credit Suisse's Bermuda life insurance unit said a loophole in Bermuda company law means it shouldn’t have to pay a billionaire client a $607m court award.
The last-minute legal challenge, if successful, would wipe out a large liability hanging over the bank. Credit Suisse in March flagged damages of more than $500m from the lawsuit, brought by former Georgia Prime Minister Bidzina Ivanishvili in Bermuda Supreme Court.
