Credit Suisse Denies Owing Mozambican Lender In Fraud Row

Law360, London (September 7, 2020, 3:18 PM BST) -- Credit Suisse has denied owing a Mozambican bank more than $54 million in case the investment bank loses a court battle in London to reclaim hundreds of millions of dollars lent to the country for maritime projects that are the focus of an international bribery scandal.

Lawyers for the investment bank said in an Aug. 28 filing with the High Court that under no circumstances did Credit Suisse International and Credit Suisse AG owe Banco Internacional de Mocambique SA damages or restitution in a joint loan agreement to a state-run company.

Banco Internacional de Mocambique, or BIM, joined Credit Suisse and...

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