Credit Suisse buys back Lehman Brothers funds from investors but denies liability for losses

News

Credit Suisse in Switzerland has bought back SFr100 million ($87.84 million) worth of Lehman principal-protected funds from its clients, while refusing to accept legal liability for investors' loss of money.

Repurchases were offered to 2,000 clients who met certain criteria, and only 11 out of those approached declined Credit Suisse's offer to buy the paper back at a discount. Most of the purchases were booked in the bank's third quarter last year.

Credit Suisse realised that some of its clients w

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