Mozambique files case against Credit Suisse in the UK

Jubilee Debt Campaign has learnt that the government of Mozambique, represented by the Attorney General, has filed a case in the UK High Court against Credit Suisse International. Commenting on the case, Tim Jones, policy officer at Jubilee Debt Campaign said:

“Credit Suisse must be held to account for its role in helping to create the $2 billion secret debt scandal in Mozambique. UK authorities have failed to take action against Credit Suisse, so it is only right that Mozambique launches this action.

“This is hopefully an indication that the Mozambique government will declare the $2 billion debt illegal so that the people of the country do not have to pay a debt they had no say over and no benefit from. Campaigners in Mozambique are clear that the Mozambique government also need to hold to account all those officials involved in contracting the secret debt without parliamentary approval.”

Jubilee Debt Campaign understands that the details in the case are:

The Republic of Mozambique (acting through its Attorney General) v. Credit Suisse International & Ors, CL-2019-000127, High Court of Justice Queens Bench Division, Commercial Court (Feb 27, 2019)

Parties in this case:

Claimant: [The Republic of Mozambique (acting through its Attorney General)]

Defendant: [Credit Suisse International, Credit Suisse AG, Singh, Mr. Surjan, Pearse, Mr Andrew James, Subeva, Ms. Detelina, Privinvest Shipbuilding S.A.L.,Abu Dhabi (Branch), Abu Dhabi Mar LLC, Privinvest Shipbuilding Investments LLC, Logistics International SAL (Offshore), Logistics International Investments]

Mr Surjan Singh, Mr Andrew James Pearce and Ms. Detelina Subeva are due in court tomorrow as part of the request by the US to extradite them as part of the US Department of Justice’s investigations into the case.

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