Slaughters Replaces Linklaters in Credit Suisse Mozambique Case
Linklaters sits on the Swiss bank's panel but has been replaced in this role.
April 09, 2020 at 09:40 AM
1 minute read
Slaughter and May has replaced elite U.K. rival Linklaters as Credit Suisse's lead legal adviser in its long running dispute with the Republic of Mozambique.
In a surprise move that sees panel firm Linklaters sidelined, the Swiss giant has now picked Slaughters' partners Richard Swallow and Jonathan Clark to lead the $2 billion debt dispute. The investment bank is defending claims that it forced the African nation into economic turmoil over a debt facility in a claim launched in London's High Court early last year.
Reuters last month reported that the bank issued a counter claim for damages, arguing that the government guarantee for the debt was valid.
A person with knowledge of the situation said that Slaughters had now taken on the mandate in place of Linklaters partner Marc Harvey. Linklaters declined to comment.
In 2018, Credit Suisse launched a new global legal panel that saw Linklaters chosen to act alongside Ashurst, Allen & Overy and Latham & Watkins. Slaughters was not listed as a panel firm adviser at that stage.
Credit Suisse did not respond to requests for comment.
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