Update – Access to Case Files and Progress of the Expert Opinion

The legal representatives of the Swiss Association for Investor Protection (Schweizerischer Anlegerschutzverein, SASV) were granted access by the Zurich Commercial Court to the documents submitted by UBS. The new findings obtained from these documents were subsequently submitted to the court as part of a supplementary filing presenting new facts and evidence.

Legal Representatives and Party-Appointed Expert Granted Access to the Files

In a letter dated 25 March 2026, the Zurich Commercial Court confirmed that UBS had not withdrawn the submitted documents and informed the plaintiffs that these files would be available for inspection from the end of April/beginning of May 2026 (see update of 9 April 2026).

On 13 May 2026, the legal representatives of the Swiss Association for Investor Protection (Schweizerischer Anlegerschutzverein, SASV) were able to inspect these files at the Zurich Commercial Court. They were supported by IVA Valuation & Advisory AG, a consultancy firm specializing in business valuations, which had previously prepared a valuation report on Credit Suisse on behalf of SASV.

Both the legal representatives and IVA Valuation & Advisory AG are bound by confidentiality obligations regarding the contents of the documents reviewed.

Following the inspection, SASV’s legal representatives informed the court of the findings obtained from the documents through a supplementary filing. Although these documents are already available to the court and the court-appointed experts, the most important findings were formally introduced into the proceedings as independent factual allegations in the interest of procedural diligence.

Court-Appointed Experts Begin Their Work

At the same time, the two experts appointed by the Commercial Court have commenced their work. As a first step, they requested additional documents from UBS which, in their view, are necessary to determine the going-concern value of Credit Suisse as of 19 March 2023.

The parties were given the opportunity to comment on this step, and SASV raised no objections.

Disclaimer automated translation:

We assume no liability for the accuracy, reliability or currency of the information translated by DeepL. The SASV has no influence on the translation quality. There is no liability claim for any damages incurred. Machine translation does not replace manual translation by certified linguists.