05:40 AM EST, 11/17/2025 (MT Newswires) -- Bondholders of the failed Credit Suisse are seeking new ways to recoup their losses from UBS (UBS) after a court ruled that the bank's previous attempt to write off 16.5 billion Swiss francs ($20.77 billion) in debt last month was not legal, the Financial Times reported.

UBS assumed the debt after the 2023 collapse of Credit Suisse and subsequent state-backed rescue of its assets.

Both UBS and Switzerland's finance regulator, FINMA, are appealing a court ruling last month that nixed their attept to not pay back holders of Credit Suisse AT1 bonds, the FT reported.

The FT cited debtors and analysis saying they were optimistic that some kind of settlement and compensation could be reached before the case reaches Switzerland's highest court.

UBS declined to comment, FT said.

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