{"id":16727,"date":"2026-01-19T15:26:32","date_gmt":"2026-01-19T14:26:32","guid":{"rendered":"https:\/\/www.iisd.org\/itn\/?p=16727"},"modified":"2026-04-21T19:16:42","modified_gmt":"2026-04-21T17:16:42","slug":"la-suisse-fait-face-a-des-reclamations-rdie-concernant-la-radiation-dobligations-at1-de-credit-suisse","status":"publish","type":"post","link":"https:\/\/www.iisd.org\/itn\/fr\/2026\/01\/19\/la-suisse-fait-face-a-des-reclamations-rdie-concernant-la-radiation-dobligations-at1-de-credit-suisse\/","title":{"rendered":"La Suisse fait face \u00e0 des r\u00e9clamations RDIE concernant la radiation d&rsquo;obligations AT1 de Credit Suisse"},"content":{"rendered":"<p>Des groupes d&rsquo;obligataires AT1 (Additional Tier 1) de Credit Suisse ont <a href=\"https:\/\/www.reuters.com\/business\/japanese-investors-sue-switzerland-over-credit-suisses-at1-write-down-law-firm-2025-12-04\/\">engag\u00e9 deux proc\u00e9dures de r\u00e8glement des diff\u00e9rends entre investisseurs et \u00c9tats<\/a> (<span class='tooltipsall tooltipsincontent classtoolTips57'>RDIE<\/span>) contre la Suisse. Selon des m\u00e9dias sp\u00e9cialis\u00e9s, le gouvernement suisse a re\u00e7u au moins neuf notifications de diff\u00e9rend au titre de divers trait\u00e9s d&rsquo;investissement, suite au sauvetage de Credit Suisse orchestr\u00e9 par l&rsquo;\u00c9tat (<a href=\"https:\/\/www.iareporter.com\/articles\/switzerland-is-hit-with-second-treaty-arbitration-over-credit-suisse-rescue-takeover\/\">voir ici<\/a> ; article payant). Ces diff\u00e9rends portent sur la radiation d&rsquo;obligations AT1 \u2013 d&rsquo;une valeur d&rsquo;environ 16 milliards de francs suisses \u2013 intervenue lors du rachat d&rsquo;urgence de Credit Suisse par son concurrent, UBS, en mars 2023. Cette radiation avait \u00e9t\u00e9 impos\u00e9e par un arr\u00eat\u00e9 de l&rsquo;Autorit\u00e9 f\u00e9d\u00e9rale de surveillance des march\u00e9s financiers (FINMA). Ces proc\u00e9dures de RDIE font suite \u00e0 d&rsquo;importants d\u00e9veloppements au sein du syst\u00e8me judiciaire suisse. En octobre 2025, le <a href=\"https:\/\/www.bvger.ch\/media-releases\/3eeb1c4b-6120-4804-9512-271477ebb52a\/de\/b-2334-2023_te.pdf\">Tribunal administratif f\u00e9d\u00e9ral a annul\u00e9 l&rsquo;arr\u00eat\u00e9 de radiation de la FINMA<\/a>. Le Tribunal a jug\u00e9 que l&rsquo;\u00e9v\u00e9nement d\u00e9clencheur contractuel ou r\u00e9glementaire sp\u00e9cifique requis pour la radiation des obligations n&rsquo;\u00e9tait pas juridiquement survenu au moment de l&rsquo;ordonnance. Ce jugement a ensuite fait l&rsquo;objet d&rsquo;un appel devant la plus haute juridiction suisse, le Tribunal f\u00e9d\u00e9ral. Le Tribunal f\u00e9d\u00e9ral a <a href=\"https:\/\/www.srf.ch\/news\/wirtschaft\/aufschiebende-wirkung-at1-abschreibung-der-credit-suisse-anleihen-bleiben-wertlos\">provisoirement suspendu<\/a> les effets de l&rsquo;annulation prononc\u00e9e par la juridiction inf\u00e9rieure. En cons\u00e9quence, la radiation demeure en vigueur dans l&rsquo;attente d&rsquo;une d\u00e9cision d\u00e9finitive de la plus haute instance judiciaire du pays.<\/p>\n<script type=\"text\/javascript\"> toolTips('.classtoolTips57','r\u00e8glement des diff\u00e9rends investisseur-\u00c9tat'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips63','Bilateral investment treaty'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips69','fair and equitable treatment'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips106','asociaci\u00f3n p\u00fablica-privada'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips114','Sistema de Tribunales de Inversiones'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips116','European Commission'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips117','European Union'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips118','Union europ\u00e9enne'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips119','Uni\u00f3n Europea'); <\/script>","protected":false},"excerpt":{"rendered":"<p>Des groupes d&rsquo;obligataires AT1 (Additional Tier 1) de Credit Suisse ont engag\u00e9 deux proc\u00e9dures de r\u00e8glement des diff\u00e9rends entre investisseurs et \u00c9tats (<span class='tooltipsall tooltipsincontent classtoolTips57'>RDIE<\/span>) contre la Suisse.<script type=\"text\/javascript\"> toolTips('.classtoolTips57','r\u00e8glement des diff\u00e9rends investisseur-\u00c9tat'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips114','Sistema de Tribunales de Inversiones'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips117','European Union'); <\/script><\/p>\n","protected":false},"author":34,"featured_media":16951,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1258],"tags":[],"class_list":["post-16727","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.iisd.org\/itn\/fr\/wp-json\/wp\/v2\/posts\/16727","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.iisd.org\/itn\/fr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.iisd.org\/itn\/fr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.iisd.org\/itn\/fr\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/www.iisd.org\/itn\/fr\/wp-json\/wp\/v2\/comments?post=16727"}],"version-history":[{"count":1,"href":"https:\/\/www.iisd.org\/itn\/fr\/wp-json\/wp\/v2\/posts\/16727\/revisions"}],"predecessor-version":[{"id":17294,"href":"https:\/\/www.iisd.org\/itn\/fr\/wp-json\/wp\/v2\/posts\/16727\/revisions\/17294"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.iisd.org\/itn\/fr\/wp-json\/wp\/v2\/media\/16951"}],"wp:attachment":[{"href":"https:\/\/www.iisd.org\/itn\/fr\/wp-json\/wp\/v2\/media?parent=16727"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.iisd.org\/itn\/fr\/wp-json\/wp\/v2\/categories?post=16727"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.iisd.org\/itn\/fr\/wp-json\/wp\/v2\/tags?post=16727"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}