BERLIN, May 23 (Reuters) - The Swiss government on

Friday announced it will appeal a court decision that found the

reduction or cancellation of variable bonus payments for former

members of failed banking giant Credit Suisse management was

unlawful.

Credit Suisse collapsed in March 2023 and was taken over by

its longstanding rival UBS in an operation orchestrated

by Swiss authorities.

Acting upon the government's instructions, the finance

ministry in May 2023 ordered Credit Suisse to reduce or scrap

outstanding bonus payments for the bank's bosses.

The finance ministry now said that the Federal

Administrative Court's interpretation of the legal basis in its

decision last week "failed to take key aspects into account, in

particular by not considering the exceptional circumstances

leading up to the takeover of Credit Suisse, which the

legislator would not have been able to foresee".