Credit Suisse Sues Saudi Prince For $78M Over Luxury Loans

By Joanne Faulkner (January 5, 2022, 12:10 PM GMT) -- Credit Suisse Group is suing a Saudi prince at the High Court in London, claiming that he failed to pay back more than $78 million in interest and loans that were used to refinance a super-yacht and a property in England.

Prince Fahad Bin Sultan is the guarantor for two companies that defaulted on a pair of loans provided by the Swiss bank to refinance an 82-meter boat and an estate in Surrey, southeast England, according to a particulars of claim that has now been made public.

Credit Suisse claims in its lawsuit that Burgundy Sea Ltd., based in the British...

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