Singapore Court orders Credit Suisse to pay $750 to Bidzina Ivanishvili

The Singapore International Commercial Court has ordered Credit Suisse Trust Ltd., a subsidiary of Credit Suisse based in Singapore, to pay $750 million for breaching its duty to safeguard the assets of Bidzina Ivanishvili as trustee as of 30 March 2008.

“The Court ordered the defendant (Credit Suisse Trust Limited ) to pay the plaintiffs (Bidzina Ivanishvili, his wife, and three of their children)  compensation of US$742.73m and costs of S$7,298,893.43 plus interest,” reads the ruling.

Click here for full judgment.