The cited record supports the material proposition.
Credit Suisse settled the Republic of Mozambique's London claim over the loans on the eve of trial.
- Claim made by
- High Court of Justice, Commercial Court, court filing
- Published
- 29 July 2024
- Evidence score
- 81 How it was scored
- Last reviewed
- 25 October 2026
Why this label
The judgment of Mr Justice Robin Knowles records that Credit Suisse and a number of other syndicated lenders reached a settlement with Mozambique on the eve of trialS2. It says the claims of the syndicated lenders were settled except for BCP, and that the settlements left a number of issues the judge did not need to decide. The part of the judgment we read does not state the settlement terms, so this record supports the fact of settlement but not any amount. A settlement is not a finding against the bank.
Current procedural position
Settled between Mozambique and Credit Suisse before trial. Judgment on remaining parties given 29 July 2024 in [2024] EWHC 1957 (Comm)S2.
Record supporting the assessment
Credit Suisse and a number of other banks who were syndicated lenders reached a settlement with Mozambique.
Claims of the banks who were syndicated lenders under the transactions were settled, except for BCP.
Conflicting or limiting record
No record located that conflicts with this assessment.
Evidence score: 81 of 100
The score grades how well the record establishes this assessment. It is not a score of Credit Suisse Group AG. Score = source authority + directness + corroboration + procedural accuracy + currency + reproducibility.
| Component | Points | Max | Reason |
|---|---|---|---|
| Source authorityIs the source competent to establish the proposition? | 28 | 30 | The trial judge's record of the settlement is competent. |
| DirectnessDoes the source state the proposition or only discuss adjacent facts? | 17 | 20 | The judgment states the settlement but not its terms. |
| CorroborationDo independent records support the same material point? | 7 | 15 | We did not read a second record of the settlement terms. |
| Procedural accuracyDoes the record settle the procedural state the claim describes? | 13 | 15 | A settlement recorded by the court is settled. |
| CurrencyHas the record been checked against later developments? | 7 | 10 | We could not check later appeals by other parties. |
| ReproducibilityCan a reader locate the passage and repeat the assessment? | 9 | 10 | The judgment is on the National Archives case law site. |
| Total | 81 | 100 |
Timeline
- Judgment records the eve of trial settlementS2
Related cases
- The Republic of Mozambique (acting through its Attorney General) v Credit Suisse International and othersHigh Court of Justice, Business and Property Courts of England and Wales, Commercial Court. Civil. [2024] EWHC 1957 (Comm).Stage: Judgment given on 29 July 2024. Credit Suisse claims settled before trial
- Judgment in [2024] EWHC 1957 (Comm)S2
Revision history
- Assessment first published with label Supported.
Have a record that changes this assessment? See corrections and responses.
Sources
- S2Tier A The Republic of Mozambique (acting through its Attorney General) v Credit Suisse International and others [2024] EWHC 1957 (Comm)High Court of Justice, Commercial Court (National Archives). Court judgment. 29 July 2024.Records the eve of trial settlement and the three borrowers. We did not read its final orders on other parties.Link working, checked 25 October 2026
Other claims about Credit Suisse Group AG
- Supported88The US Department of Justice said in October 2021 that Credit Suisse entities resolved the Mozambique loan case with more than US$547 million in penalties, fines and disgorgement, including a guilty plea by its UK unit.Regulator statement, 19 October 20213 records citedFraud
- Supported86The DOJ said the Mozambique project contractor paid about US$50 million in kickbacks to bankers at Credit Suisse's UK unit.Regulator statement, 19 October 20213 records citedBribery
- Outdated84The October 2021 DOJ release presented Credit Suisse Group AG as the parent bank that entered the Mozambique deferred prosecution agreement.Regulator statement, 19 October 20214 records citedCorporate status